Phillips 66 $PSX Shares Acquired by Strs Ohio

by · The Markets Daily

Strs Ohio lifted its stake in shares of Phillips 66 (NYSE:PSX – Free Report) by 199.9% during the second quarter, HoldingsChannel.com reports. The firm owned 276,888 shares of the oil and gas company’s stock after purchasing an additional 184,556 shares during the period. Strs Ohio’s holdings in Phillips 66 were worth $33,033,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Savvy Advisors Inc. grew its stake in shares of Phillips 66 by 25.2% during the 2nd quarter. Savvy Advisors Inc. now owns 4,598 shares of the oil and gas company’s stock worth $549,000 after purchasing an additional 925 shares during the period. Hantz Financial Services Inc. grew its stake in Phillips 66 by 30.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,029 shares of the oil and gas company’s stock valued at $242,000 after acquiring an additional 479 shares during the last quarter. Arkadios Wealth Advisors grew its stake in Phillips 66 by 42.0% in the 2nd quarter. Arkadios Wealth Advisors now owns 42,855 shares of the oil and gas company’s stock valued at $5,113,000 after acquiring an additional 12,667 shares during the last quarter. World Investment Advisors grew its stake in Phillips 66 by 39.5% in the 2nd quarter. World Investment Advisors now owns 11,271 shares of the oil and gas company’s stock valued at $1,345,000 after acquiring an additional 3,192 shares during the last quarter. Finally, Daymark Wealth Partners LLC grew its stake in Phillips 66 by 2.0% in the 2nd quarter. Daymark Wealth Partners LLC now owns 84,583 shares of the oil and gas company’s stock valued at $10,091,000 after acquiring an additional 1,640 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the transaction, the executive vice president owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. This represents a 11.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gregory Hayes purchased 8,350 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The shares were bought at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the transaction, the director directly owned 29,423 shares of the company’s stock, valued at $3,527,817.70. The trade was a 39.62% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Phillips 66 stock opened at $137.17 on Friday. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.35. The stock has a market capitalization of $55.43 billion, a P/E ratio of 37.48, a P/E/G ratio of 1.81 and a beta of 1.11. The firm’s 50-day moving average is $132.54 and its two-hundred day moving average is $123.00. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX – Get Free Report) last released its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The company had revenue of $33.69 billion for the quarter, compared to analysts’ expectations of $32.29 billion. During the same period last year, the company earned $2.04 EPS. Equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio is presently 115.38%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PSX. Mizuho upped their price target on shares of Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Monday, September 15th. Scotiabank reaffirmed a “sector perform” rating and issued a $133.00 price target on shares of Phillips 66 in a report on Friday, July 11th. Jefferies Financial Group upped their price target on shares of Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a report on Friday, October 10th. Wall Street Zen raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Argus raised shares of Phillips 66 to a “strong-buy” rating in a report on Thursday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.94.

View Our Latest Stock Analysis on PSX

Phillips 66 Company Profile

(Free Report)

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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