State of Alaska Department of Revenue Acquires 241 Shares of Phillips 66 (NYSE:PSX)

State of Alaska Department of Revenue lifted its holdings in Phillips 66 (NYSE:PSX) by 0.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 156,511 shares of the oil and gas company’s stock after buying an additional 241 shares during the quarter. State of Alaska Department of Revenue’s holdings in Phillips 66 were worth $16,026,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PSX. Advisors Preferred LLC bought a new stake in shares of Phillips 66 during the 2nd quarter worth approximately $25,000. TRUE Private Wealth Advisors bought a new stake in shares of Phillips 66 during the 2nd quarter worth approximately $26,000. Manchester Financial Inc. bought a new stake in shares of Phillips 66 during the 2nd quarter worth approximately $32,000. Coastal Capital Group Inc. bought a new stake in shares of Phillips 66 during the 2nd quarter worth approximately $37,000. Finally, TCG Advisors LP bought a new stake in shares of Phillips 66 during the 1st quarter worth approximately $38,000. 68.71% of the stock is owned by institutional investors and hedge funds.

NYSE PSX traded up $0.96 on Friday, reaching $99.83. The stock had a trading volume of 75,602 shares, compared to its average volume of 2,631,264. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.28 and a quick ratio of 0.82. The firm has a fifty day moving average of $100.46 and a two-hundred day moving average of $95.19. Phillips 66 has a 1-year low of $78.44 and a 1-year high of $119.14. The company has a market cap of $45.32 billion, a P/E ratio of 8.53, a price-to-earnings-growth ratio of 2.07 and a beta of 1.07.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, July 26th. The oil and gas company reported $3.02 EPS for the quarter, beating analysts’ consensus estimates of $2.70 by $0.32. Phillips 66 had a return on equity of 19.75% and a net margin of 4.76%. The firm had revenue of $28.52 billion for the quarter, compared to analyst estimates of $29.89 billion. During the same period in the prior year, the firm posted $2.80 EPS. Research analysts predict that Phillips 66 will post 7.5 EPS for the current fiscal year.

In other Phillips 66 news, EVP Robert A. Herman sold 47,433 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $103.17, for a total value of $4,893,662.61. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.13% of the company’s stock.

A number of equities research analysts have recently issued reports on PSX shares. ValuEngine upgraded Phillips 66 from a “sell” rating to a “hold” rating in a research note on Wednesday. Wells Fargo & Co boosted their target price on Phillips 66 from $130.00 to $132.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. decreased their target price on Phillips 66 from $126.00 to $115.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Evercore ISI started coverage on Phillips 66 in a report on Wednesday. They set an “outperform” rating on the stock. Finally, Raymond James boosted their target price on Phillips 66 from $110.00 to $117.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Phillips 66 currently has an average rating of “Buy” and an average price target of $113.50.

Phillips 66 Company Profile

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 products to market; provides terminaling and storage services for crude oil and 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.

Further Reading: Why do analysts give a neutral rating?

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

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