Swiss Life Asset Management Ltd Acquires 3,620 Shares of Phillips 66 $PSX

Swiss Life Asset Management Ltd grew its holdings in shares of Phillips 66 (NYSE:PSX) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,096 shares of the oil and gas company’s stock after acquiring an additional 3,620 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Phillips 66 were worth $7,884,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PSX. Drive Wealth Management LLC lifted its position in Phillips 66 by 35.4% in the 4th quarter. Drive Wealth Management LLC now owns 5,314 shares of the oil and gas company’s stock worth $686,000 after buying an additional 1,389 shares during the last quarter. Nwam LLC lifted its position in Phillips 66 by 7.6% in the 4th quarter. Nwam LLC now owns 3,326 shares of the oil and gas company’s stock worth $465,000 after buying an additional 236 shares during the last quarter. Bryn Mawr Trust Advisors LLC lifted its position in Phillips 66 by 0.8% in the 4th quarter. Bryn Mawr Trust Advisors LLC now owns 74,001 shares of the oil and gas company’s stock worth $9,549,000 after buying an additional 598 shares during the last quarter. Garrett Wealth Advisory Group LLC lifted its position in Phillips 66 by 3.2% in the 4th quarter. Garrett Wealth Advisory Group LLC now owns 6,871 shares of the oil and gas company’s stock worth $887,000 after buying an additional 213 shares during the last quarter. Finally, Advisor OS LLC lifted its position in Phillips 66 by 12.4% in the 4th quarter. Advisor OS LLC now owns 5,125 shares of the oil and gas company’s stock worth $661,000 after buying an additional 566 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX stock opened at $175.61 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. Phillips 66 has a fifty-two week low of $109.75 and a fifty-two week high of $190.61. The stock has a 50 day moving average price of $170.08 and a two-hundred day moving average price of $151.13. The company has a market capitalization of $70.41 billion, a P/E ratio of 17.30, a PEG ratio of 0.26 and a beta of 0.70.

Phillips 66 (NYSE:PSX) last announced 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. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. During the same quarter in the previous year, the company posted ($0.90) earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. Analysts expect that Phillips 66 will post 17.39 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders 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 annualized dividend and a yield of 2.9%. Phillips 66’s payout ratio is presently 50.05%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PSX shares. Tudor Pickering upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Piper Sandler boosted their target price on Phillips 66 from $168.00 to $177.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 8th. Raymond James Financial boosted their target price on Phillips 66 from $205.00 to $215.00 in a research report on Thursday, April 30th. JPMorgan Chase & Co. boosted their target price on Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. Finally, Wells Fargo & Company boosted their target price on Phillips 66 from $163.00 to $201.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $184.50.

Insider Transactions at Phillips 66

In related news, Director Kevin Omar Meyers acquired 175 shares of the stock in a transaction on Wednesday, May 6th. The stock was purchased at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the transaction, the director owned 16,799 shares of the company’s stock, valued at $2,908,242.88. This trade represents a 1.05% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Don Baldridge sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total value of $1,200,000.00. Following the completion of the sale, the executive vice president owned 38,488 shares of the company’s stock, valued at $6,158,080. The trade was a 16.31% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 121,529 shares of company stock valued at $20,841,455. 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.