Phillips 66 (NYSE:PSX) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 530,807 shares of the oil and gas company's stock after purchasing an additional 14,209 shares during the period. Principal Financial Group Inc. owned 0.13% of Phillips 66 worth $69,775,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PSX. Crewe Advisors LLC purchased a new position in shares of Phillips 66 in the 1st quarter valued at about $25,000. Strategic Financial Concepts LLC purchased a new position in Phillips 66 in the second quarter valued at approximately $26,000. nVerses Capital LLC purchased a new position in Phillips 66 in the third quarter valued at approximately $26,000. Values First Advisors Inc. acquired a new stake in Phillips 66 during the third quarter worth approximately $30,000. Finally, Bank & Trust Co purchased a new stake in shares of Phillips 66 during the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Performance

Shares of NYSE PSX traded down $0.23 during mid-day trading on Friday, hitting $126.45. 3,126,003 shares of the company were exchanged, compared to its average volume of 2,178,901. The stock has a 50 day simple moving average of $130.12 and a 200-day simple moving average of $136.57. Phillips 66 has a 1-year low of $110.54 and a 1-year high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The firm has a market cap of $52.22 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 4.12 and a beta of 1.33.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company had revenue of $36.16 billion during the quarter, compared to analysts' expectations of $36.31 billion. During the same quarter last year, the business earned $4.63 EPS. The business's revenue was down 10.3% on a year-over-year basis. On average, sell-side analysts forecast that Phillips 66 will post 7.68 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66's payout ratio is 59.05%.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.22% of the company's stock.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of recent analyst reports. TD Cowen dropped their target price on shares of Phillips 66 from $162.00 to $150.00 and set a "buy" rating on the stock in a research report on Wednesday, September 11th. Wolfe Research began coverage on Phillips 66 in a report on Thursday, July 18th. They set a "peer perform" rating on the stock. Piper Sandler set a $144.00 target price on Phillips 66 in a report 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 on the stock in a research note on Monday, September 16th. Finally, Bank of America initiated coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a "buy" rating and a $156.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $150.38.

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.