UniSuper Management Pty Ltd Raises Stake in Phillips 66 $PSX

UniSuper Management Pty Ltd increased its stake in Phillips 66 (NYSE:PSX) by 13.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,102 shares of the oil and gas company’s stock after purchasing an additional 4,464 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Phillips 66 were worth $5,183,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PSX. Elliott Investment Management L.P. boosted its position in Phillips 66 by 22.4% during the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock worth $2,296,644,000 after purchasing an additional 3,526,000 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in shares of Phillips 66 by 5.0% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 209,700 shares of the oil and gas company’s stock worth $28,523,000 after buying an additional 10,000 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Phillips 66 by 14.8% during the 2nd quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock worth $5,531,702,000 after buying an additional 5,978,841 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Phillips 66 in the 2nd quarter worth about $4,952,000. Finally, Thrivent Financial for Lutherans grew its stake in Phillips 66 by 81.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 42,205 shares of the oil and gas company’s stock valued at $5,035,000 after acquiring an additional 18,895 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $138.00, for a total value of $4,140,000.00. Following the completion of the sale, the chief financial officer owned 89,771 shares in the company, valued at $12,388,398. The trade was a 25.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Brian Mandell sold 25,500 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the transaction, the executive vice president owned 56,838 shares in the company, valued at approximately $7,959,593.52. The trade was a 30.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 86,094 shares of company stock valued at $11,955,366. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PSX. Jefferies Financial Group lifted their target price on shares of Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. TD Cowen raised their price objective on shares of Phillips 66 from $145.00 to $151.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Wall Street Zen lowered Phillips 66 from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Mizuho increased their target price on Phillips 66 from $150.00 to $152.00 and gave the company a “neutral” rating in a report on Monday, January 12th. Finally, UBS Group reissued a “buy” rating on shares of Phillips 66 in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat.com, Phillips 66 presently has a consensus rating of “Hold” and a consensus price target of $153.53.

Phillips 66 Trading Down 0.3%

Shares of PSX opened at $141.51 on Monday. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $146.88. The company has a market capitalization of $57.02 billion, a PE ratio of 38.66, a price-to-earnings-growth ratio of 0.40 and a beta of 0.90. The stock has a fifty day moving average of $136.13 and a two-hundred day moving average of $132.45. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.23.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. The business had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.During the same quarter in the previous year, the business earned $2.04 earnings per share. As a group, analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

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.