State of Wyoming Acquires 3,123 Shares of Phillips 66 $PSX

State of Wyoming lifted its holdings in Phillips 66 (NYSE:PSX) by 182.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,833 shares of the oil and gas company’s stock after buying an additional 3,123 shares during the quarter. State of Wyoming’s holdings in Phillips 66 were worth $880,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Accordant Advisory Group Inc grew its holdings in Phillips 66 by 900.0% in the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 180 shares during the period. Eagle Bay Advisors LLC purchased a new position in shares of Phillips 66 during the fourth quarter valued at approximately $27,000. NFSG Corp lifted its holdings in shares of Phillips 66 by 105.6% during the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. SWAN Capital LLC boosted its position in shares of Phillips 66 by 1,055.6% in the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 190 shares in the last quarter. Finally, Stephens Consulting LLC grew its stake in shares of Phillips 66 by 67.7% in the 4th quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock worth $29,000 after buying an additional 90 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Trading Down 0.4%

Phillips 66 stock opened at $211.49 on Thursday. Phillips 66 has a one year low of $118.07 and a one year high of $216.08. The business’s fifty day moving average is $181.23 and its 200 day moving average is $167.47. The stock has a market capitalization of $84.79 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 0.28 and a beta of 0.69. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. During the same quarter in the prior year, the business earned ($0.90) EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, sell-side analysts predict that Phillips 66 will post 19.84 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be given a dividend of $1.27 per share. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.4%. Phillips 66’s dividend payout ratio is 50.05%.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 11,021 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $190.03, for a total value of $2,094,320.63. Following the sale, the chief financial officer owned 97,376 shares in the company, valued at approximately $18,504,361.28. This trade represents a 10.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Omar Meyers bought 175 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were bought at an average price of $173.12 per share, with a total value of $30,296.00. Following the completion of the purchase, the director owned 16,799 shares in the company, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 41,021 shares of company stock worth $7,195,257 in the last 90 days. 0.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on PSX. Piper Sandler raised their price objective on Phillips 66 from $168.00 to $177.00 and gave the company a “neutral” rating in a research report on Wednesday, April 8th. Jefferies Financial Group boosted their target price on Phillips 66 from $191.00 to $207.00 and gave the stock a “hold” rating in a report on Thursday, July 9th. Raymond James Financial increased their target price on Phillips 66 from $218.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. BMO Capital Markets lifted their price target on Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Finally, Wolfe Research increased their price objective on shares of Phillips 66 from $187.00 to $193.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $198.72.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.