Lombard Odier Asset Management Switzerland SA Buys New Shares in Phillips 66 $PSX

Lombard Odier Asset Management Switzerland SA purchased a new stake in shares of Phillips 66 (NYSE:PSX) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,656 shares of the oil and gas company’s stock, valued at approximately $1,030,000.

A number of other large investors have also recently bought and sold shares of PSX. Accordant Advisory Group Inc lifted its stake in shares of Phillips 66 by 900.0% in the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 180 shares during the period. Eagle Bay Advisors LLC acquired a new stake in Phillips 66 during the fourth quarter worth approximately $27,000. NFSG Corp grew its stake in Phillips 66 by 105.6% during the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 75 shares during the period. SWAN Capital LLC increased its holdings in Phillips 66 by 1,055.6% in the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 190 shares in the last quarter. Finally, Sfam LLC bought a new stake in Phillips 66 in the fourth quarter worth approximately $34,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Phillips 66

In related news, CFO Kevin J. Mitchell sold 11,021 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $18,504,361.28. This represents a 10.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Omar Meyers acquired 175 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were bought at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the purchase, 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 41,021 shares of company stock valued at $7,195,257 in the last quarter. 0.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PSX. Piper Sandler restated a “neutral” rating and set a $208.00 price target on shares of Phillips 66 in a report on Thursday, July 23rd. UBS Group lifted their price objective on shares of Phillips 66 from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Monday. Argus boosted their target price on shares of Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. TD Cowen increased their target price on shares of Phillips 66 from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Finally, Jefferies Financial Group raised their price target on shares of Phillips 66 from $191.00 to $207.00 and gave the stock a “hold” rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $201.72.

Phillips 66 Trading Up 0.5%

PSX opened at $207.72 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. Phillips 66 has a fifty-two week low of $118.07 and a fifty-two week high of $216.08. The firm has a market capitalization of $83.28 billion, a PE ratio of 20.46, a P/E/G ratio of 0.16 and a beta of 0.69. The company’s 50-day moving average is $183.09 and its 200 day moving average is $168.98.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating the consensus estimate of ($0.54) by $1.03. The business had revenue of $32.54 billion for 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% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.90) EPS. As a group, research analysts predict that Phillips 66 will post 22.43 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a dividend of $1.27 per share. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 annualized dividend and a yield of 2.4%. Phillips 66’s dividend payout ratio is 50.05%.

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.