Texas Permanent School Fund Buys 249 Shares of Phillips 66 (NYSE:PSX)

Texas Permanent School Fund lifted its holdings in shares of Phillips 66 (NYSE:PSXGet Rating) by 0.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,685 shares of the oil and gas company’s stock after buying an additional 249 shares during the quarter. Texas Permanent School Fund’s holdings in Phillips 66 were worth $5,243,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PSX. Evolution Advisers Inc. acquired a new stake in shares of Phillips 66 during the 4th quarter worth approximately $28,000. First Community Trust NA grew its position in shares of Phillips 66 by 60.6% during the 1st quarter. First Community Trust NA now owns 334 shares of the oil and gas company’s stock worth $29,000 after buying an additional 126 shares during the period. Curi Wealth Management LLC acquired a new stake in shares of Phillips 66 during the 4th quarter worth approximately $31,000. Accel Wealth Management grew its position in shares of Phillips 66 by 127.4% during the 1st quarter. Accel Wealth Management now owns 357 shares of the oil and gas company’s stock worth $31,000 after buying an additional 200 shares during the period. Finally, Norwood Financial Corp acquired a new stake in shares of Phillips 66 during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 64.28% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX stock opened at $82.65 on Friday. The company’s fifty day simple moving average is $90.81 and its 200-day simple moving average is $87.96. The company has a quick ratio of 0.87, a current ratio of 1.28 and a debt-to-equity ratio of 0.51. The firm has a market cap of $39.76 billion, a PE ratio of 7.12, a P/E/G ratio of 0.49 and a beta of 1.41. Phillips 66 has a 12 month low of $63.19 and a 12 month high of $111.28.

Phillips 66 (NYSE:PSXGet Rating) last announced its quarterly earnings data on Friday, July 29th. The oil and gas company reported $6.77 EPS for the quarter, topping analysts’ consensus estimates of $5.92 by $0.85. The business had revenue of $49.31 billion for the quarter, compared to analyst estimates of $40.93 billion. Phillips 66 had a net margin of 3.59% and a return on equity of 29.60%. The firm’s revenue for the quarter was up 76.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share. Equities research analysts expect that Phillips 66 will post 15.55 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th will be given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend is Wednesday, August 17th. Phillips 66’s dividend payout ratio is presently 33.42%.

Insider Transactions at Phillips 66

In other news, VP Paula Ann Johnson sold 44,700 shares of the business’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $108.91, for a total value of $4,868,277.00. Following the sale, the vice president now owns 102,489 shares of the company’s stock, valued at $11,162,076.99. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Phillips 66 news, VP Paula Ann Johnson sold 44,700 shares of the company’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $108.91, for a total transaction of $4,868,277.00. Following the sale, the vice president now directly owns 102,489 shares of the company’s stock, valued at $11,162,076.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Greg C. Garland sold 146,700 shares of the company’s stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $109.70, for a total transaction of $16,092,990.00. Following the sale, the chief executive officer now directly owns 656,563 shares in the company, valued at $72,024,961.10. The disclosure for this sale can be found here. Insiders have sold a total of 297,700 shares of company stock valued at $32,327,782 over the last 90 days. 0.74% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PSX. Wells Fargo & Company lifted their price target on shares of Phillips 66 from $114.00 to $127.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 14th. StockNews.com upgraded shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a report on Monday. Credit Suisse Group boosted their price objective on shares of Phillips 66 to $122.00 in a report on Thursday, June 9th. JPMorgan Chase & Co. boosted their price objective on shares of Phillips 66 from $102.00 to $112.00 in a report on Tuesday, May 17th. Finally, Citigroup assumed coverage on shares of Phillips 66 in a report on Tuesday, April 26th. They set a “neutral” rating and a $89.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.29.

Phillips 66 Company Profile

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Phillips 66 operates as an energy manufacturing and logistics company. 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.

Further Reading

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

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