Elo Mutual Pension Insurance Co Lowers Stock Position in Phillips 66 (NYSE:PSX)

Elo Mutual Pension Insurance Co decreased its position in Phillips 66 (NYSE:PSX) by 19.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,688 shares of the oil and gas company’s stock after selling 9,127 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Phillips 66 were worth $5,320,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PSX. Bank of New York Mellon Corp raised its holdings in Phillips 66 by 38.0% in the 1st quarter. Bank of New York Mellon Corp now owns 8,019,795 shares of the oil and gas company’s stock worth $1,309,954,000 after purchasing an additional 2,209,043 shares during the period. Wellington Management Group LLP increased its position in shares of Phillips 66 by 20.3% in the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after buying an additional 1,842,226 shares in the last quarter. Boston Partners increased its position in shares of Phillips 66 by 41.4% in the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after buying an additional 1,595,722 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Phillips 66 by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after buying an additional 1,578,669 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Phillips 66 by 96.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock valued at $467,743,000 after buying an additional 1,408,954 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Up 1.6 %

Shares of PSX opened at $130.31 on Thursday. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The firm has a market capitalization of $54.54 billion, a P/E ratio of 10.02, a P/E/G ratio of 4.53 and a beta of 1.33. The firm has a 50-day moving average price of $135.46 and a 200 day moving average price of $143.87. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.33. The business had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.87 EPS. Sell-side analysts forecast that Phillips 66 will post 9.25 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a dividend of $1.15 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.53%. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Mizuho cut their price target on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday. Piper Sandler cut their target price on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Barclays raised their price target on shares of Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Argus reiterated a “buy” rating and set a $167.00 price objective on shares of Phillips 66 in a research note on Thursday, May 30th. Finally, Wells Fargo & Company raised their target price on Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.29.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.22% of the company’s stock.

Phillips 66 Company 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.