NFJ Investment Group LLC Boosts Stake in Phillips 66 $PSX

NFJ Investment Group LLC lifted its holdings in Phillips 66 (NYSE:PSX) by 359.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,574 shares of the oil and gas company’s stock after purchasing an additional 48,947 shares during the quarter. NFJ Investment Group LLC’s holdings in Phillips 66 were worth $8,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of PSX. Board of the Pension Protection Fund purchased a new position in shares of Phillips 66 in the fourth quarter worth $26,000. Accordant Advisory Group Inc raised its stake in shares of 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 last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Phillips 66 in the fourth quarter worth $27,000. SWAN Capital LLC raised its stake in shares of Phillips 66 by 1,055.6% in the fourth 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 during the last quarter. Finally, Stephens Consulting LLC raised its stake in shares of Phillips 66 by 67.7% in the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of a number of research reports. Barclays upped their price objective on Phillips 66 from $158.00 to $177.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 8th. Wolfe Research upped their price objective on Phillips 66 from $187.00 to $193.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Guggenheim upgraded Phillips 66 to an “outperform” rating in a research report on Wednesday, May 27th. UBS Group upped their price objective on Phillips 66 from $172.00 to $212.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Finally, Argus upped their price objective on Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $192.33.

Phillips 66 Stock Performance

NYSE:PSX opened at $179.27 on Friday. The stock has a 50-day simple moving average of $172.49 and a two-hundred day simple moving average of $157.75. Phillips 66 has a 52-week low of $118.00 and a 52-week high of $190.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. The firm has a market capitalization of $71.87 billion, a PE ratio of 17.66, a P/E/G ratio of 0.26 and a beta of 0.68.

Phillips 66 (NYSE:PSX) last released its quarterly 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 business had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same quarter in the previous year, the company posted ($0.90) earnings per share. Phillips 66’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts forecast that Phillips 66 will post 17.95 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Monday, May 18th. Phillips 66’s payout ratio is currently 50.05%.

Insider Activity

In related news, Director Kevin Omar Meyers purchased 175 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was acquired at an average price of $173.12 per share, with a total value of $30,296.00. Following the completion of the acquisition, the director owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kevin J. Mitchell sold 600 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $171.56, for a total value of $102,936.00. Following the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at $16,705,826.56. This represents a 0.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 45,629 shares of company stock valued at $8,071,540 in the last three months. 0.40% of the stock is currently owned by corporate insiders.

Phillips 66 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.