South Dakota Investment Council Sells 18,708 Shares of Phillips 66 (NYSE:PSX)

South Dakota Investment Council trimmed its position in shares of Phillips 66 (NYSE:PSX) by 38.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 30,053 shares of the oil and gas company’s stock after selling 18,708 shares during the quarter. South Dakota Investment Council’s holdings in Phillips 66 were worth $4,001,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PSX. Cornerstone Planning Group LLC boosted its holdings in shares of Phillips 66 by 134.8% in the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 151 shares during the period. Bruce G. Allen Investments LLC bought a new position in shares of Phillips 66 in the fourth quarter worth $36,000. Bell Investment Advisors Inc boosted its holdings in shares of Phillips 66 by 82.1% in the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 138 shares during the period. West Branch Capital LLC boosted its holdings in shares of Phillips 66 by 49.5% in the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 91 shares during the period. Finally, Headinvest LLC bought a new position in shares of Phillips 66 in the third quarter worth $51,000. 76.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PSX shares. StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th. Wells Fargo & Company lifted their price objective on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Mizuho dropped their price objective on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. JPMorgan Chase & Co. lifted their price objective on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Finally, Piper Sandler lifted their price objective on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $158.00.

Phillips 66 Trading Down 0.6 %

Shares of PSX stock opened at $157.82 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $155.18 and a two-hundred day moving average price of $136.46. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The firm has a market cap of $67.52 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 1.95 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The firm had revenue of $38.74 billion during the quarter, compared to analyst estimates of $34.30 billion. Equities analysts anticipate that Phillips 66 will post 13.59 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is 27.15%.

Insider Activity

In other news, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the sale, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,056 shares of company stock valued at $5,272,681. Insiders own 0.22% of the company’s stock.

Phillips 66 Profile

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.