Phillips 66 (NYSE:PSX) Shares Purchased by National Pension Service

Posted by on Mar 16th, 2023

National Pension Service raised its stake in shares of Phillips 66 (NYSE:PSX – Get Rating) by 0.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 716,728 shares of the oil and gas company’s stock after buying an additional 5,102 shares during the quarter. National Pension Service owned about 0.15% of Phillips 66 worth $57,790,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PSX. Hallmark Capital Management Inc. grew its holdings in Phillips 66 by 62.5% during the 3rd quarter. Hallmark Capital Management Inc. now owns 325 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 125 shares during the last quarter. Horan Securities Inc. boosted its holdings in shares of Phillips 66 by 210.6% during the third quarter. Horan Securities Inc. now owns 351 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 238 shares during the last quarter. Core Alternative Capital boosted its holdings in shares of Phillips 66 by 218.3% during the third quarter. Core Alternative Capital now owns 366 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 251 shares during the last quarter. Worth Asset Management LLC acquired a new stake in shares of Phillips 66 during the first quarter worth $32,000. Finally, Heritage Wealth Management LLC acquired a new stake in shares of Phillips 66 during the second quarter worth $37,000. Institutional investors and hedge funds own 70.76% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the topic of several analyst reports. Piper Sandler decreased their price objective on Phillips 66 from $155.00 to $137.00 and set an “overweight” rating on the stock in a report on Monday, December 19th. Royal Bank of Canada raised their price objective on Phillips 66 from $130.00 to $132.00 and gave the stock an “outperform” rating in a report on Wednesday, February 8th. StockNews.com began coverage on Phillips 66 in a report on Thursday. They issued a “buy” rating on the stock. Raymond James lifted their target price on Phillips 66 from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Friday, January 13th. Finally, Mizuho reduced their target price on Phillips 66 from $121.00 to $120.00 in a report on Friday, March 10th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $121.27.

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Gregory Hayes bought 10,250 shares of the company’s stock in a transaction dated Thursday, February 2nd. The shares were acquired at an average cost of $97.75 per share, with a total value of $1,001,937.50. Following the completion of the transaction, the director now owns 14,299 shares in the company, valued at $1,397,727.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.74% of the company’s stock.

Phillips 66 Trading Down 4.4 %

NYSE:PSX opened at $93.65 on Thursday. The business’s 50-day moving average is $102.91 and its two-hundred day moving average is $99.41. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.38 and a quick ratio of 1.17. Phillips 66 has a 12 month low of $74.02 and a 12 month high of $113.53. The firm has a market capitalization of $43.45 billion, a PE ratio of 4.08, a price-to-earnings-growth ratio of 0.33 and a beta of 1.37.

Phillips 66 (NYSE:PSX – Get Rating) last announced its earnings results on Tuesday, January 31st. The oil and gas company reported $4.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.35). Phillips 66 had a return on equity of 31.20% and a net margin of 6.27%. The business had revenue of $40.91 billion for the quarter, compared to analysts’ expectations of $34.30 billion. During the same period in the previous year, the firm posted $2.94 earnings per share. Research analysts predict that Phillips 66 will post 15.57 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Tuesday, February 21st were given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 4.48%. This is a positive change from Phillips 66’s previous quarterly dividend of $0.97. The ex-dividend date was Friday, February 17th. Phillips 66’s payout ratio is presently 18.30%.

Phillips 66 Company Profile

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Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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