Leonteq Securities AG Takes $663,000 Position in Phillips 66 $PSX

Leonteq Securities AG bought a new stake in Phillips 66 (NYSE:PSX) during the fourth quarter, Holdings Channel reports. The institutional investor bought 5,136 shares of the oil and gas company’s stock, valued at approximately $663,000.

A number of other institutional investors have also modified their holdings of the business. Oppenheimer & Co. Inc. grew its holdings in Phillips 66 by 57.4% during the third quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company’s stock worth $7,734,000 after acquiring an additional 20,742 shares during the period. First National Bank of Omaha acquired a new position in Phillips 66 during the third quarter worth about $2,357,000. TD Asset Management Inc grew its holdings in Phillips 66 by 15.5% during the third quarter. TD Asset Management Inc now owns 174,413 shares of the oil and gas company’s stock worth $23,724,000 after acquiring an additional 23,364 shares during the period. Caprock Group LLC acquired a new position in Phillips 66 during the third quarter worth about $2,412,000. Finally, National Pension Service grew its holdings in Phillips 66 by 3.5% during the third quarter. National Pension Service now owns 602,099 shares of the oil and gas company’s stock worth $81,898,000 after acquiring an additional 20,213 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Trading Up 2.3%

NYSE:PSX opened at $178.03 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. Phillips 66 has a 1-year low of $111.19 and a 1-year high of $190.61. The firm has a market capitalization of $71.38 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 0.26 and a beta of 0.70. The stock has a fifty day simple moving average of $172.12 and a 200 day simple moving average of $153.30.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same quarter last year, the company posted ($0.90) EPS. Phillips 66’s revenue for the quarter was up 6.9% on a year-over-year basis. Sell-side analysts forecast that Phillips 66 will post 17.64 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be given a $1.27 dividend. The ex-dividend date is Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.9%. Phillips 66’s dividend payout ratio (DPR) is 50.05%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PSX shares. Barclays lifted their target price on Phillips 66 from $158.00 to $177.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 8th. Zacks Research raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Scotiabank lifted their target price on Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $180.00 target price on shares of Phillips 66 in a report on Thursday, April 30th. Finally, Piper Sandler increased their price target on Phillips 66 from $168.00 to $177.00 and gave the company a “neutral” rating in a research report on Wednesday, April 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $187.11.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 29,400 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the completion of the sale, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,553,920. This trade represents a 23.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kevin Omar Meyers acquired 175 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were acquired at an average price of $173.12 per share, with a total value of $30,296.00. Following the completion of the transaction, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have sold 114,029 shares of company stock worth $19,641,455. Company insiders own 0.40% of the company’s stock.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.