Phillips 66 (NYSE:PSX) Shares Bought by AMF Tjanstepension AB

AMF Tjanstepension AB lifted its holdings in Phillips 66 (NYSE:PSX) by 90.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 277,679 shares of the oil and gas company’s stock after acquiring an additional 131,880 shares during the period. AMF Tjanstepension AB owned approximately 0.06% of Phillips 66 worth $26,508,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Argent Trust Co grew its holdings in Phillips 66 by 1.6% during the 4th quarter. Argent Trust Co now owns 6,409 shares of the oil and gas company’s stock valued at $667,000 after purchasing an additional 100 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in Phillips 66 by 16.8% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 702 shares of the oil and gas company’s stock valued at $71,000 after purchasing an additional 101 shares in the last quarter. Whitener Capital Management Inc. boosted its stake in Phillips 66 by 2.1% during the 4th quarter. Whitener Capital Management Inc. now owns 5,026 shares of the oil and gas company’s stock valued at $523,000 after acquiring an additional 103 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in Phillips 66 by 5.3% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 2,096 shares of the oil and gas company’s stock valued at $212,000 after acquiring an additional 106 shares during the last quarter. Finally, Joel Isaacson & Co. LLC boosted its stake in Phillips 66 by 3.3% during the 1st quarter. Joel Isaacson & Co. LLC now owns 3,509 shares of the oil and gas company’s stock valued at $356,000 after acquiring an additional 113 shares during the last quarter. 71.83% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Down 0.1 %

NYSE PSX opened at $123.10 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.33 and a quick ratio of 0.90. The company’s 50 day simple moving average is $110.40 and its 200 day simple moving average is $102.20. Phillips 66 has a 12 month low of $74.02 and a 12 month high of $125.19. The company has a market capitalization of $54.81 billion, a P/E ratio of 5.34, a PEG ratio of 0.41 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, August 2nd. The oil and gas company reported $3.87 EPS for the quarter, topping analysts’ consensus estimates of $3.54 by $0.33. Phillips 66 had a net margin of 6.81% and a return on equity of 26.25%. The business had revenue of $35.74 billion for the quarter, compared to the consensus estimate of $32.13 billion. During the same period in the previous year, the firm earned $6.77 EPS. Equities research analysts expect that Phillips 66 will post 15.45 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were issued a dividend of $1.05 per share. The ex-dividend date was Thursday, August 17th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.41%. Phillips 66’s dividend payout ratio is currently 18.22%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PSX. Mizuho increased their price objective on shares of Phillips 66 from $118.00 to $127.00 and gave the company a “neutral” rating in a research note on Wednesday, August 16th. Morgan Stanley reiterated an “equal weight” rating and set a $125.00 price objective on shares of Phillips 66 in a research note on Wednesday, July 19th. Wells Fargo & Company increased their price objective on shares of Phillips 66 from $130.00 to $144.00 and gave the company an “overweight” rating in a research note on Friday, September 8th. TD Cowen upgraded shares of Phillips 66 from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $110.00 to $123.00 in a research note on Thursday, June 1st. Finally, Piper Sandler raised their price target on shares of Phillips 66 from $130.00 to $136.00 in a research report on Friday, August 4th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $129.47.

Insider Activity

In other news, EVP Timothy D. Roberts sold 127,578 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $116.68, for a total transaction of $14,885,801.04. Following the sale, the executive vice president now owns 77,313 shares in the company, valued at $9,020,880.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Timothy D. Roberts sold 127,578 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $116.68, for a total transaction of $14,885,801.04. Following the transaction, the executive vice president now directly owns 77,313 shares of the company’s stock, valued at $9,020,880.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy D. Roberts sold 12,970 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $124.41, for a total transaction of $1,613,597.70. Following the transaction, the executive vice president now directly owns 80,009 shares in the company, valued at $9,953,919.69. The disclosure for this sale can be found here. Insiders have sold 360,648 shares of company stock worth $41,396,371 over the last 90 days. 4.57% of the stock is owned by company insiders.

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.