Louisiana State Employees Retirement System Invests $3.73 Million in Phillips 66 $PSX

Louisiana State Employees Retirement System purchased a new stake in shares of Phillips 66 (NYSE:PSX) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 20,500 shares of the oil and gas company’s stock, valued at approximately $3,735,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Phillips 66 by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock worth $6,701,052,000 after buying an additional 205,480 shares in the last quarter. State Street Corp boosted 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 acquiring an additional 175,616 shares during the last quarter. Geode Capital Management LLC boosted 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 acquiring an additional 45,340 shares during the last quarter. Norges Bank bought a new stake in shares of Phillips 66 in the fourth quarter worth approximately $640,206,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Phillips 66 by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,944,561 shares of the oil and gas company’s stock valued at $509,006,000 after purchasing an additional 89,621 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PSX. Weiss Ratings downgraded shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research 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. TD Cowen increased their price target on Phillips 66 from $155.00 to $213.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. JPMorgan Chase & Co. raised their price target on Phillips 66 from $188.00 to $202.00 in a research note on Thursday, April 30th. Finally, Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $192.33.

Insiders Place Their Bets

In related news, CFO Kevin J. Mitchell sold 29,400 shares of Phillips 66 stock in a transaction 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 directly owned 97,376 shares in the company, valued at approximately $16,553,920. The trade was a 23.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin Omar Meyers purchased 175 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were bought at an average cost of $173.12 per share, with a total value of $30,296.00. Following the acquisition, the director directly 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. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 45,629 shares of company stock worth $8,071,540. 0.40% of the stock is owned by insiders.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $171.84 on Friday. Phillips 66 has a 12-month low of $118.00 and a 12-month high of $190.61. The firm has a market capitalization of $68.90 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 0.24 and a beta of 0.68. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average of $172.94 and a 200 day moving average of $160.01.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.54) by $1.03. The business had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm earned ($0.90) earnings per share. On average, research analysts anticipate that Phillips 66 will post 18.22 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, May 18th. Phillips 66’s dividend payout ratio (DPR) is currently 50.05%.

Phillips 66 Company Profile

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.