State of Alaska Department of Revenue Has $12.02 Million Stock Holdings in Phillips 66 (NYSE:PSX)

State of Alaska Department of Revenue cut its stake in shares of Phillips 66 (NYSE:PSX) by 11.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 73,608 shares of the oil and gas company’s stock after selling 9,365 shares during the period. State of Alaska Department of Revenue’s holdings in Phillips 66 were worth $12,022,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $27,000. First United Bank & Trust acquired a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $31,000. Rise Advisors LLC acquired a new stake in shares of Phillips 66 in the first quarter valued at approximately $40,000. Signature Resources Capital Management LLC acquired a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $33,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $36,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the sale, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at $7,051,617. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PSX shares. StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Piper Sandler dropped their price target on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Scotiabank lifted their price target on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. TD Cowen dropped their price target on Phillips 66 from $164.00 to $155.00 and set a “buy” rating for the company in a report on Friday, June 21st. Finally, Argus restated a “buy” rating and set a $167.00 price objective on shares of Phillips 66 in a research note on Thursday, May 30th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $157.07.

Phillips 66 Stock Up 0.1 %

Shares of NYSE:PSX opened at $140.55 on Thursday. The company has a market capitalization of $59.59 billion, a price-to-earnings ratio of 10.81, a P/E/G ratio of 2.13 and a beta of 1.34. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. The business’s 50-day moving average is $142.22 and its 200-day moving average is $144.98. Phillips 66 has a 1 year low of $94.51 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The firm had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. During the same period in the previous year, the firm earned $4.21 earnings per share. Equities research analysts predict that Phillips 66 will post 10.99 earnings per share for the current year.

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.