Aviva PLC Has $37.21 Million Position in Phillips 66 $PSX

Aviva PLC raised its stake in Phillips 66 (NYSE:PSX) by 6.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 311,887 shares of the oil and gas company’s stock after buying an additional 18,946 shares during the period. Aviva PLC owned 0.08% of Phillips 66 worth $37,208,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Wolff Wiese Magana LLC raised its position in Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 82 shares during the last quarter. Pinpoint Asset Management Ltd bought a new position in Phillips 66 in the 1st quarter valued at approximately $29,000. Webster Bank N. A. boosted its position in Phillips 66 by 58.8% during the 2nd quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $32,000 after buying an additional 100 shares during the period. Nova Wealth Management Inc. bought a new stake in Phillips 66 during the 1st quarter worth approximately $37,000. Finally, GKV Capital Management Co. Inc. increased its position in Phillips 66 by 111.5% in the 1st quarter. GKV Capital Management Co. Inc. now owns 330 shares of the oil and gas company’s stock valued at $41,000 after acquiring an additional 174 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Down 0.3%

Shares of NYSE:PSX opened at $137.80 on Monday. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $142.35. The business’s 50 day simple moving average is $133.20 and its two-hundred day simple moving average is $124.96. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The firm has a market cap of $55.52 billion, a P/E ratio of 37.65, a PEG ratio of 1.81 and a beta of 1.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The business had revenue of $33.69 billion during the quarter, compared to analyst estimates of $32.29 billion. During the same quarter in the previous year, the business posted $2.04 EPS. As a group, research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be paid a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 3.5%. Phillips 66’s payout ratio is 131.15%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Phillips 66 in a research note on Wednesday, October 8th. Morgan Stanley upped their price target on Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research report on Friday, October 3rd. Wall Street Zen upgraded Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. TD Cowen lifted their price objective on Phillips 66 from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $143.56.

Insider Buying and Selling

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the transaction, the executive vice president owned 34,587 shares of the company’s stock, valued at $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory Hayes purchased 8,350 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was bought at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the transaction, the director directly owned 29,423 shares in the company, valued at $3,527,817.70. The trade was a 39.62% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.22% of the company’s stock.

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.