Ontario Teachers Pension Plan Board Makes New $489,000 Investment in Phillips 66 (NYSE:PSX)

Ontario Teachers Pension Plan Board acquired a new position in Phillips 66 (NYSE:PSX) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 3,719 shares of the oil and gas company’s stock, valued at approximately $489,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new stake in shares of Phillips 66 in the 1st quarter valued at approximately $25,000. Strategic Financial Concepts LLC bought a new position in shares of Phillips 66 in the second quarter valued at approximately $26,000. nVerses Capital LLC acquired a new position in Phillips 66 during the 3rd quarter worth $26,000. Values First Advisors Inc. bought a new stake in Phillips 66 during the 3rd quarter valued at approximately $30,000. Finally, Bank & Trust Co bought a new stake in shares of Phillips 66 in the second quarter valued at approximately $31,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

PSX opened at $131.90 on Friday. The company has a market cap of $54.47 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 4.29 and a beta of 1.33. Phillips 66 has a 1-year low of $114.94 and a 1-year high of $174.08. The company’s fifty day moving average price is $130.15 and its two-hundred day moving average price is $135.50. 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 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same quarter last year, the firm posted $4.63 EPS. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, analysts expect that Phillips 66 will post 7.63 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 59.05%.

Analysts Set New Price Targets

PSX has been the subject of a number of recent research reports. Piper Sandler set a $144.00 target price on Phillips 66 in a research note on Thursday, October 17th. Morgan Stanley dropped their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Barclays decreased their price target on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Scotiabank lowered their price objective on 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. Finally, Bank of America began coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, 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.