Public Sector Pension Investment Board Has $9.63 Million Stake in Phillips 66 (NYSE:PSX)

Public Sector Pension Investment Board reduced its stake in shares of Phillips 66 (NYSE:PSX) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,288 shares of the oil and gas company’s stock after selling 500 shares during the quarter. Public Sector Pension Investment Board’s holdings in Phillips 66 were worth $9,634,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PSX. Fiduciary Trust Co lifted its holdings in Phillips 66 by 2.4% during the 3rd quarter. Fiduciary Trust Co now owns 11,453 shares of the oil and gas company’s stock valued at $1,505,000 after purchasing an additional 265 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Phillips 66 by 4.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 85,608 shares of the oil and gas company’s stock valued at $11,253,000 after acquiring an additional 3,889 shares during the last quarter. FORA Capital LLC acquired a new position in shares of Phillips 66 in the 3rd quarter worth approximately $10,571,000. CreativeOne Wealth LLC grew its position in Phillips 66 by 43.9% during the 3rd quarter. CreativeOne Wealth LLC now owns 3,697 shares of the oil and gas company’s stock worth $486,000 after acquiring an additional 1,128 shares during the last quarter. Finally, Cynosure Group LLC acquired a new stake in Phillips 66 during the 3rd quarter valued at $201,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Price Performance

Phillips 66 stock opened at $134.02 on Friday. The firm has a market capitalization of $55.35 billion, a P/E ratio of 17.20, a PEG ratio of 4.35 and a beta of 1.33. The business has a 50-day moving average of $130.68 and a 200-day moving average of $134.99. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 1 year low of $119.77 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.63 earnings per share. On average, equities analysts anticipate that Phillips 66 will post 7.66 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.43%. Phillips 66’s dividend payout ratio is presently 59.05%.

Analyst Ratings Changes

Several analysts have recently commented on PSX shares. UBS Group decreased their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Scotiabank lowered their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Bank of America started coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 price target on the stock. Morgan Stanley dropped their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, TD Cowen decreased their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $149.69.

About Phillips 66

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.