Mufg Securities Americas Inc. Increases Stake in Phillips 66 $PSX

Mufg Securities Americas Inc. raised its position in Phillips 66 (NYSE:PSX) by 23.5% in the 2nd quarter, Holdings Channel reports. The fund owned 9,029 shares of the oil and gas company’s stock after acquiring an additional 1,719 shares during the period. Mufg Securities Americas Inc.’s holdings in Phillips 66 were worth $1,077,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wolff Wiese Magana LLC lifted its position in Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 82 shares during the period. Pinpoint Asset Management Ltd purchased a new position in shares of Phillips 66 during the 1st quarter worth approximately $29,000. Webster Bank N. A. lifted its holdings in shares of Phillips 66 by 58.8% in the 2nd quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 100 shares during the period. Nova Wealth Management Inc. acquired a new stake in shares of Phillips 66 in the 1st quarter valued at approximately $37,000. Finally, GKV Capital Management Co. Inc. boosted its stake in shares of Phillips 66 by 111.5% in the first quarter. GKV Capital Management Co. Inc. now owns 330 shares of the oil and gas company’s stock valued at $41,000 after buying an additional 174 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the transaction, the executive vice president directly owned 34,587 shares in the company, valued at approximately $4,842,180. The trade was a 11.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Brian Mandell sold 26,200 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total value of $3,607,216.00. Following the sale, the executive vice president owned 56,838 shares in the company, valued at $7,825,455.84. This trade represents a 31.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 64,986 shares of company stock valued at $8,955,291. Company insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Phillips 66 in a research report on Wednesday, October 8th. Piper Sandler increased their price target on shares of Phillips 66 from $159.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, November 14th. Argus raised shares of Phillips 66 to a “strong-buy” rating in a report on Thursday, July 31st. BMO Capital Markets lifted their price target on shares of Phillips 66 from $152.00 to $160.00 in a research report on Tuesday, November 11th. Finally, Jefferies Financial Group upped their price target on Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, Phillips 66 presently has an average rating of “Hold” and a consensus price target of $145.71.

Phillips 66 Stock Up 1.4%

Shares of NYSE:PSX opened at $133.78 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $143.25. The stock’s fifty day simple moving average is $134.33 and its 200-day simple moving average is $127.08. The company has a market capitalization of $53.90 billion, a P/E ratio of 36.55, a P/E/G ratio of 1.81 and a beta of 1.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.The firm had revenue of $33.69 billion during the quarter, compared to analysts’ expectations of $32.29 billion. During the same quarter last year, the business posted $2.04 EPS. As a group, equities research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s payout ratio is currently 131.15%.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.