Public Sector Pension Investment Board Sells 500 Shares of Phillips 66 (NYSE:PSX)

Public Sector Pension Investment Board lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 73,288 shares of the oil and gas company’s stock after selling 500 shares during the quarter. Public Sector Pension Investment Board’s holdings in Phillips 66 were worth $9,634,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PSX. Strategic Financial Concepts LLC bought a new position in shares of Phillips 66 during the 2nd quarter valued at $26,000. nVerses Capital LLC acquired a new position in Phillips 66 during the third quarter worth $26,000. Values First Advisors Inc. acquired a new stake in shares of Phillips 66 in the third quarter worth about $30,000. Bank & Trust Co bought a new stake in shares of Phillips 66 during the 2nd quarter worth about $31,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Phillips 66 during the 2nd quarter valued at about $34,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PSX. Wells Fargo & Company reduced their target price on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. TD Cowen reduced their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. UBS Group lowered their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Morgan Stanley cut their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, Bank of America began coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 Price Performance

Shares of PSX stock opened at $134.02 on Friday. Phillips 66 has a 12 month low of $119.77 and a 12 month high of $174.08. The company has a market capitalization of $55.35 billion, a P/E ratio of 17.20, a P/E/G ratio of 4.35 and a beta of 1.33. The stock has a 50 day moving average of $130.68 and a two-hundred day moving average of $134.99. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.63 earnings per share. As a group, equities analysts expect that Phillips 66 will post 7.66 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.43%. Phillips 66’s payout ratio is currently 59.05%.

About Phillips 66

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.