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

Swiss Life Asset Management Ltd lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 6.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 61,096 shares of the oil and gas company’s stock after purchasing an additional 3,620 shares during the period. 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 hedge funds and other institutional investors also recently made changes to their positions in PSX. Brighton Jones LLC raised its holdings in shares of Phillips 66 by 238.5% during the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after acquiring an additional 7,214 shares in the last quarter. Woodline Partners LP grew its stake in Phillips 66 by 40.7% in the first quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock worth $4,308,000 after purchasing an additional 10,089 shares during the period. Sei Investments Co. raised its holdings in Phillips 66 by 28.3% in the second quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company’s stock worth $18,788,000 after purchasing an additional 34,698 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Phillips 66 by 9.1% in the second quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company’s stock worth $41,359,000 after purchasing an additional 28,988 shares in the last quarter. Finally, Glenview Trust co raised its holdings in Phillips 66 by 2.6% in the second quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company’s stock worth $1,068,000 after purchasing an additional 229 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 0.1%

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

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. During the same quarter in the prior year, the company earned ($0.90) earnings per share. Phillips 66’s revenue was up 6.9% on a year-over-year basis. As a group, analysts forecast that Phillips 66 will post 17.39 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be issued a $1.27 dividend. The ex-dividend date of this dividend is 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 is currently 50.05%.

Insider Buying and Selling

In other news, Director Lisa Ann Davis sold 3,800 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $174.37, for a total value of $662,606.00. Following the transaction, the director owned 8,701 shares of the company’s stock, valued at $1,517,193.37. This trade represents a 30.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brian Mandell sold 42,800 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was 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 directly owned 61,595 shares in the company, valued at $10,442,200.35. This trade represents a 41.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 121,529 shares of company stock valued at $20,841,455 in the last 90 days. Insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of research reports. Mizuho increased their price objective on Phillips 66 from $152.00 to $170.00 and gave the stock a “neutral” rating in a report on Tuesday, March 17th. Tudor Pickering upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Argus increased their price objective on Phillips 66 from $152.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Wolfe Research increased their price objective on Phillips 66 from $187.00 to $193.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Finally, Raymond James Financial increased their target price on Phillips 66 from $205.00 to $215.00 in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $184.50.

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.