Sienna Gestion Acquires Shares of 10,224 Phillips 66 $PSX

Sienna Gestion acquired a new stake in Phillips 66 (NYSE:PSX) in the 4th quarter, Holdings Channel reports. The fund acquired 10,224 shares of the oil and gas company’s stock, valued at approximately $1,318,000.

Several other large investors also recently bought and sold shares of PSX. Vanguard Group Inc. boosted its stake in Phillips 66 by 11.6% in the third quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company’s stock valued at $7,035,574,000 after acquiring an additional 5,356,558 shares in the last quarter. Norges Bank acquired a new position in Phillips 66 in the fourth quarter valued at $640,206,000. M&T Bank Corp boosted its stake in Phillips 66 by 462.9% in the fourth quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock valued at $352,007,000 after acquiring an additional 2,243,268 shares in the last quarter. AQR Capital Management LLC boosted its stake in Phillips 66 by 424.7% in the third quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock valued at $257,512,000 after acquiring an additional 1,532,389 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new position in Phillips 66 in the second quarter valued at $107,967,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In related news, Director Kevin Omar Meyers bought 175 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was bought at an average cost of $173.12 per share, with a total value of $30,296.00. Following the completion of the acquisition, the director owned 16,799 shares in the company, valued at approximately $2,908,242.88. This represents a 1.05% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin J. Mitchell sold 29,400 shares of the business’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 owned 97,376 shares in the company, valued at $16,553,920. This represents a 23.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 45,629 shares of company stock valued at $8,071,540. 0.40% of the stock is currently owned by corporate insiders.

Phillips 66 Trading Down 3.6%

NYSE PSX opened at $172.90 on Tuesday. The stock has a market capitalization of $69.32 billion, a P/E ratio of 17.03, a P/E/G ratio of 0.26 and a beta of 0.68. Phillips 66 has a 52-week low of $118.00 and a 52-week high of $190.61. The firm has a 50-day moving average price of $172.42 and a 200 day moving average price of $158.19. 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 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $1.03. The firm had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.90) earnings per share. Equities research analysts expect that Phillips 66 will post 17.95 EPS for the current year.

Phillips 66 Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of Phillips 66 from $163.00 to $201.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Argus increased their target price on shares of Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. UBS Group reiterated a “buy” rating and set a $212.00 target price on shares of Phillips 66 in a research note on Monday. Piper Sandler increased their target price on shares of Phillips 66 from $168.00 to $177.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 8th. Finally, Guggenheim upgraded shares of Phillips 66 to an “outperform” rating in a research note on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $192.33.

Phillips 66 Company Profile

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.