IFM Investors Pty Ltd Has $12.19 Million Stock Holdings in Phillips 66 $PSX

IFM Investors Pty Ltd boosted its holdings in Phillips 66 (NYSE:PSX) by 7.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,891 shares of the oil and gas company’s stock after buying an additional 4,750 shares during the quarter. IFM Investors Pty Ltd’s holdings in Phillips 66 were worth $12,186,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSX. Vanguard Group Inc. lifted its holdings in shares of Phillips 66 by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock worth $6,701,052,000 after acquiring an additional 205,480 shares during the last quarter. State Street Corp grew its holdings in shares of Phillips 66 by 0.8% during the 4th quarter. State Street Corp now owns 23,589,550 shares of the oil and gas company’s stock valued at $3,043,996,000 after purchasing an additional 175,616 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Phillips 66 by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock valued at $1,338,596,000 after purchasing an additional 45,340 shares during the last quarter. Norges Bank acquired a new position in Phillips 66 during the 4th quarter worth approximately $640,206,000. Finally, Charles Schwab Investment Management Inc. increased its position in Phillips 66 by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,944,561 shares of the oil and gas company’s stock worth $509,006,000 after purchasing an additional 89,621 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

PSX has been the topic of a number of research analyst reports. Barclays raised their target price on shares of Phillips 66 from $158.00 to $177.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 8th. The Goldman Sachs Group increased their price target on Phillips 66 from $192.00 to $207.00 and gave the company a “neutral” rating in a research note on Tuesday, May 19th. Wall Street Zen upgraded Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. UBS Group reiterated a “buy” rating and issued a $212.00 target price on shares of Phillips 66 in a research report on Monday, June 15th. Finally, TD Cowen lifted their price target on Phillips 66 from $213.00 to $220.00 and gave the company a “buy” rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $192.72.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $174.38 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. Phillips 66 has a 52 week low of $118.07 and a 52 week high of $190.61. The firm has a market cap of $69.91 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 0.24 and a beta of 0.69. The firm’s fifty day moving average is $173.78 and its 200-day moving average is $160.80.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. The business had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.Phillips 66’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.90) earnings per share. Sell-side analysts predict that Phillips 66 will post 18.21 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were paid a $1.27 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.9%. Phillips 66’s dividend payout ratio is presently 50.05%.

Insider Transactions at Phillips 66

In other news, Director Kevin Omar Meyers bought 175 shares of the firm’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 transaction, the director owned 16,799 shares of the company’s stock, valued at $2,908,242.88. This trade represents a 1.05% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin J. Mitchell sold 29,400 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the transaction, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $16,553,920. The trade was a 23.19% decrease in their position. The SEC filing for this sale provides additional information. 0.40% of the stock is owned by company insiders.

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.