Canada Post Corp Registered Pension Plan Buys 12,245 Shares of Phillips 66 $PSX

Canada Post Corp Registered Pension Plan increased its stake in Phillips 66 (NYSE:PSX) by 82.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,130 shares of the oil and gas company’s stock after buying an additional 12,245 shares during the quarter. Canada Post Corp Registered Pension Plan’s holdings in Phillips 66 were worth $3,501,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PSX. Vanguard Group Inc. increased its stake in Phillips 66 by 11.6% in the third quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company’s stock worth $7,035,574,000 after purchasing an additional 5,356,558 shares during the period. M&T Bank Corp increased its stake in Phillips 66 by 462.9% in the fourth quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock worth $352,007,000 after purchasing an additional 2,243,268 shares during the period. AQR Capital Management LLC increased its stake in Phillips 66 by 424.7% in the third quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock worth $257,512,000 after purchasing an additional 1,532,389 shares during the period. Worldquant Millennium Advisors LLC purchased a new stake in Phillips 66 in the second quarter worth $107,967,000. Finally, Holocene Advisors LP increased its stake in Phillips 66 by 2,433.1% in the second quarter. Holocene Advisors LP now owns 711,599 shares of the oil and gas company’s stock worth $84,894,000 after purchasing an additional 683,507 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Price Performance

PSX opened at $176.42 on Monday. The business’s 50-day moving average is $170.79 and its two-hundred day moving average is $151.93. Phillips 66 has a 1 year low of $109.75 and a 1 year high of $190.61. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The firm has a market capitalization of $70.73 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 0.26 and a beta of 0.70.

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 return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same quarter in the previous year, the firm earned ($0.90) earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. Research analysts anticipate that Phillips 66 will post 17.64 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, May 18th. Phillips 66’s payout ratio is 50.05%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Argus increased their target price on Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Thursday. Raymond James Financial raised their price target on Phillips 66 from $205.00 to $215.00 in a research note on Thursday, April 30th. JPMorgan Chase & Co. raised their price target on Phillips 66 from $188.00 to $202.00 in a research note on Thursday, April 30th. BMO Capital Markets raised their price target on Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, Scotiabank raised their price target on Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $186.28.

Insider Buying and Selling

In other Phillips 66 news, Director Lisa Ann Davis sold 3,800 shares of Phillips 66 stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $174.37, for a total value of $662,606.00. Following the transaction, the director owned 8,701 shares in the company, valued at $1,517,193.37. The trade was a 30.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin Omar Meyers bought 175 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was bought at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the purchase, the director directly owned 16,799 shares of the company’s stock, valued at $2,908,242.88. The trade was a 1.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 121,529 shares of company stock valued at $20,841,455 over the last three months. Corporate insiders own 0.40% of the company’s stock.

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.