Allstate Corp Purchases 16,612 Shares of Phillips 66 $PSX

Allstate Corp lifted its position in shares of Phillips 66 (NYSE:PSX) by 115.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,993 shares of the oil and gas company’s stock after purchasing an additional 16,612 shares during the period. Allstate Corp’s holdings in Phillips 66 were worth $3,999,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Board of the Pension Protection Fund bought a new position in shares of Phillips 66 during the fourth quarter valued at about $26,000. Accordant Advisory Group Inc increased its holdings in Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after buying an additional 180 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in Phillips 66 during the fourth quarter worth about $27,000. Stephens Consulting LLC increased its holdings in Phillips 66 by 67.7% during the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock worth $29,000 after buying an additional 90 shares during the last quarter. Finally, Dorato Capital Management purchased a new stake in Phillips 66 during the fourth quarter worth about $35,000. 76.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Weiss Ratings downgraded shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Zacks Research upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. UBS Group lifted their target price on shares of Phillips 66 from $172.00 to $212.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Jefferies Financial Group lifted their target price on shares of Phillips 66 from $173.00 to $191.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Phillips 66 from $188.00 to $202.00 in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.28.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $174.60 on Thursday. The company has a 50 day moving average of $172.24 and a 200 day moving average of $154.23. The stock has a market cap of $70.00 billion, a P/E ratio of 17.20, a P/E/G ratio of 0.26 and a beta of 0.70. Phillips 66 has a 12 month low of $111.19 and a 12 month high of $190.61. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.54) by $1.03. The company had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. Phillips 66’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.90) earnings per share. As a group, sell-side analysts forecast that Phillips 66 will post 17.64 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be paid a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $5.08 annualized dividend and a yield of 2.9%. 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 purchase, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lisa Ann Davis sold 3,800 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $174.37, for a total transaction of $662,606.00. Following the completion of the transaction, the director directly owned 8,701 shares of the company’s stock, valued at approximately $1,517,193.37. This represents a 30.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 114,029 shares of company stock worth $19,641,455 in the last three months. Insiders own 0.40% of the company’s stock.

About Phillips 66

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.