MUFG Securities EMEA plc Acquires 8,783 Shares of Phillips 66 $PSX

MUFG Securities EMEA plc boosted its holdings in Phillips 66 (NYSE:PSX) by 113.5% during the fourth quarter, Holdings Channel reports. The fund owned 16,518 shares of the oil and gas company’s stock after purchasing an additional 8,783 shares during the period. MUFG Securities EMEA plc’s holdings in Phillips 66 were worth $2,131,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PSX. Oppenheimer & Co. Inc. increased its position in Phillips 66 by 57.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company’s stock worth $7,734,000 after buying an additional 20,742 shares during the period. First National Bank of Omaha acquired a new position in shares of Phillips 66 in the third quarter valued at about $2,357,000. TD Asset Management Inc increased its position 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 bought a new position in Phillips 66 during the third quarter worth about $2,412,000. Finally, National Pension Service increased its position 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. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $180.06 on Tuesday. The stock’s 50-day simple moving average is $172.41 and its 200 day simple moving average is $155.05. The firm has a market capitalization of $72.19 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 0.26 and a beta of 0.68. 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 twelve month low of $111.19 and a twelve month high of $190.61.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data 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 analyst estimates of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.Phillips 66’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.90) earnings per share. On average, analysts anticipate that Phillips 66 will post 17.64 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were given a $1.27 dividend. The ex-dividend date was Monday, May 18th. This represents a $5.08 annualized dividend and a yield of 2.8%. Phillips 66’s dividend payout ratio (DPR) is currently 50.05%.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of recent research reports. Piper Sandler raised their price target on shares of Phillips 66 from $168.00 to $177.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 8th. Wells Fargo & Company raised their price target on shares of Phillips 66 from $163.00 to $201.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. BMO Capital Markets raised their price target on shares of Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Raymond James Financial raised their price target on shares of Phillips 66 from $205.00 to $215.00 in a research report on Thursday, April 30th. Finally, The Goldman Sachs Group raised their price target on shares of Phillips 66 from $192.00 to $207.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 19th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $191.28.

Insider Transactions at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 29,400 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $170.00, for a total value of $4,998,000.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brian Mandell sold 42,800 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $169.53, for a total value of $7,255,884.00. Following the completion of the transaction, the executive vice president owned 61,595 shares of the company’s stock, valued at $10,442,200.35. This represents a 41.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 114,029 shares of company stock valued at $19,641,455 over the last three months. Company insiders own 0.40% of the company’s stock.

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.