Victory Capital Management Inc. Acquires 178,363 Shares of Phillips 66 (NYSE:PSX)

Victory Capital Management Inc. lifted its position in shares of Phillips 66 (NYSE:PSXGet Rating) by 62.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 463,388 shares of the oil and gas company’s stock after buying an additional 178,363 shares during the period. Victory Capital Management Inc. owned about 0.10% of Phillips 66 worth $40,204,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brinker Capital Investments LLC boosted its position in shares of Phillips 66 by 30.1% during the fourth quarter. Brinker Capital Investments LLC now owns 36,613 shares of the oil and gas company’s stock worth $2,653,000 after buying an additional 8,473 shares during the period. CAPROCK Group Inc. boosted its position in shares of Phillips 66 by 81.6% during the first quarter. CAPROCK Group Inc. now owns 7,554 shares of the oil and gas company’s stock worth $653,000 after buying an additional 3,394 shares during the period. Great Valley Advisor Group Inc. boosted its position in Phillips 66 by 32.3% during the first quarter. Great Valley Advisor Group Inc. now owns 13,616 shares of the oil and gas company’s stock valued at $1,174,000 after purchasing an additional 3,328 shares during the last quarter. CWM LLC acquired a new position in Phillips 66 during the fourth quarter valued at approximately $1,129,000. Finally, Gateway Investment Advisers LLC boosted its position in Phillips 66 by 2.9% during the first quarter. Gateway Investment Advisers LLC now owns 35,331 shares of the oil and gas company’s stock valued at $3,052,000 after purchasing an additional 996 shares during the last quarter. 64.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PSX has been the subject of several recent research reports. Credit Suisse Group increased their price target on Phillips 66 to $122.00 in a research report on Thursday, June 9th. BMO Capital Markets initiated coverage on Phillips 66 in a research report on Monday, June 13th. They set an “outperform” rating and a $132.00 price target for the company. Citigroup initiated coverage on Phillips 66 in a research report on Tuesday, April 26th. They set a “neutral” rating and a $89.00 price target for the company. The Goldman Sachs Group reissued a “buy” rating and set a $109.00 price target on shares of Phillips 66 in a research report on Friday, July 1st. Finally, Wells Fargo & Company upped their price objective on Phillips 66 from $114.00 to $127.00 and gave the company an “overweight” rating in a research note on Tuesday, June 14th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $108.29.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $87.49 on Tuesday. The firm has a market cap of $42.09 billion, a P/E ratio of 7.54, a price-to-earnings-growth ratio of 0.53 and a beta of 1.42. The company has a current ratio of 1.13, a quick ratio of 0.87 and a debt-to-equity ratio of 0.59. Phillips 66 has a 1-year low of $63.19 and a 1-year high of $111.28. The business’s 50 day moving average is $91.59 and its 200-day moving average is $88.02.

Phillips 66 (NYSE:PSXGet Rating) last announced its earnings results on Friday, July 29th. The oil and gas company reported $6.77 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $2.72. The company had revenue of $49.31 billion for the quarter, compared to analyst estimates of $40.93 billion. Phillips 66 had a return on equity of 30.68% and a net margin of 3.59%. The firm’s quarterly revenue was up 76.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 earnings per share. Equities research analysts predict that Phillips 66 will post 14.49 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th will be paid a dividend of $0.97 per share. The ex-dividend date is Wednesday, August 17th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.43%. Phillips 66’s dividend payout ratio (DPR) is currently 33.42%.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Robert A. Herman sold 47,200 shares of Phillips 66 stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $102.82, for a total value of $4,853,104.00. Following the completion of the transaction, the executive vice president now directly owns 64,106 shares of the company’s stock, valued at approximately $6,591,378.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Phillips 66 news, CEO Greg C. Garland sold 146,700 shares of Phillips 66 stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $109.70, for a total value of $16,092,990.00. Following the completion of the transaction, the chief executive officer now directly owns 656,563 shares of the company’s stock, valued at approximately $72,024,961.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert A. Herman sold 47,200 shares of Phillips 66 stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $102.82, for a total value of $4,853,104.00. Following the completion of the transaction, the executive vice president now directly owns 64,106 shares of the company’s stock, valued at $6,591,378.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 297,700 shares of company stock worth $32,327,782. Company insiders own 0.74% of the company’s stock.

Phillips 66 Profile

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Phillips 66 operates as an energy manufacturing and logistics company. 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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