Illinois Municipal Retirement Fund Increases Stock Position in Phillips 66 $PSX

Illinois Municipal Retirement Fund lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 45.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,576 shares of the oil and gas company’s stock after buying an additional 22,351 shares during the period. Illinois Municipal Retirement Fund’s holdings in Phillips 66 were worth $8,539,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wolff Wiese Magana LLC grew its holdings in Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 82 shares during the period. Pinpoint Asset Management Ltd acquired a new stake in Phillips 66 in the first quarter valued at $29,000. Webster Bank N. A. boosted its position in shares of Phillips 66 by 58.8% during the 2nd quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Nova Wealth Management Inc. acquired a new position in shares of Phillips 66 during the 1st quarter worth $37,000. Finally, GKV Capital Management Co. Inc. grew its stake in shares of Phillips 66 by 111.5% during the 1st quarter. GKV Capital Management Co. Inc. now owns 330 shares of the oil and gas company’s stock worth $41,000 after purchasing an additional 174 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Phillips 66 news, Director Gregory Hayes purchased 8,350 shares of Phillips 66 stock in a transaction on Thursday, August 14th. The shares were bought at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the purchase, the director directly owned 29,423 shares in the company, valued at $3,527,817.70. This trade represents a 39.62% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the sale, the executive vice president owned 34,587 shares in the company, valued at $4,842,180. This trade represents a 11.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.22% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PSX shares. UBS Group reiterated a “buy” rating and issued a $160.00 price objective on shares of Phillips 66 in a research note on Monday. Raymond James Financial reiterated an “outperform” rating and set a $150.00 price target (up from $145.00) on shares of Phillips 66 in a research report on Friday, October 17th. Wall Street Zen raised Phillips 66 from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Wells Fargo & Company raised their price objective on Phillips 66 from $154.00 to $162.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Barclays lifted their price objective on Phillips 66 from $127.00 to $132.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $143.56.

Phillips 66 Stock Performance

Phillips 66 stock opened at $140.74 on Wednesday. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $142.94. The company has a market capitalization of $56.71 billion, a price-to-earnings ratio of 38.45, a PEG ratio of 1.81 and a beta of 1.08. The stock has a fifty day moving average of $133.44 and a two-hundred day moving average of $125.46. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. The business had revenue of $33.69 billion for the quarter, compared to analyst estimates of $32.29 billion. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.During the same quarter last year, the company earned $2.04 earnings per share. On average, analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.4%. Phillips 66’s dividend payout ratio is presently 131.15%.

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.