Union Bancaire Privee UBP SA Takes Position in Phillips 66 $PSX

Union Bancaire Privee UBP SA purchased a new position in Phillips 66 (NYSE:PSX) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,936 shares of the oil and gas company’s stock, valued at approximately $1,819,000.

Other institutional investors have also made changes to their positions in the company. 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 valued at $23,724,000 after purchasing an additional 23,364 shares during the period. MUFG Securities EMEA plc raised its holdings in Phillips 66 by 113.5% in the fourth quarter. MUFG Securities EMEA plc now owns 16,518 shares of the oil and gas company’s stock worth $2,131,000 after purchasing an additional 8,783 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Phillips 66 by 17.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,371,804 shares of the oil and gas company’s stock worth $177,018,000 after purchasing an additional 199,646 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich bought a new position in shares of Phillips 66 during the third quarter worth $2,394,000. Finally, Truist Financial Corp grew its holdings in shares of Phillips 66 by 1.6% in the 4th quarter. Truist Financial Corp now owns 675,084 shares of the oil and gas company’s stock valued at $87,113,000 after buying an additional 10,585 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Trading Up 0.0%

Shares of NYSE:PSX opened at $171.84 on Friday. The firm has a market cap of $68.90 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 0.24 and a beta of 0.68. Phillips 66 has a 12 month low of $118.00 and a 12 month high of $190.61. The company’s fifty day simple moving average is $172.94 and its 200 day simple moving average is $160.01. 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 announced its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. The firm had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.90) EPS. As a group, research analysts forecast that Phillips 66 will post 18.22 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, May 18th. Phillips 66’s payout ratio is 50.05%.

Insider Activity

In other news, Director Kevin Omar Meyers acquired 175 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was acquired at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the acquisition, the director owned 16,799 shares in the company, valued at $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin J. Mitchell sold 29,400 shares of Phillips 66 stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $170.00, for a total value 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 represents a 23.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 45,629 shares of company stock valued at $8,071,540 over the last ninety days. 0.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PSX. Mizuho upgraded shares of Phillips 66 from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $170.00 to $212.00 in a research report on Wednesday, May 27th. Raymond James Financial boosted their target price on Phillips 66 from $215.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, June 10th. Jefferies Financial Group increased their price target on Phillips 66 from $173.00 to $191.00 and gave the stock a “hold” rating in a report on Tuesday, May 26th. UBS Group reaffirmed a “buy” rating and set a $212.00 price target on shares of Phillips 66 in a research report on Monday, June 15th. Finally, Wolfe Research lifted their price objective on Phillips 66 from $187.00 to $193.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $192.33.

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.