37,275 Shares in Phillips 66 $PSX Bought by Ticino Wealth

Key Points

• Ticino Wealth bought 37,275 shares of Phillips 66 (NYSE:PSX) in the fourth quarter for about $4.81 million, making the stock roughly 1.8% of its portfolio and its 13th-largest holding.
• Phillips 66 reported quarterly EPS of $2.47, beating estimates by $0.32 while revenue of $32.16 billion missed expectations, and announced a quarterly dividend of $1.27 ($5.08 annualized) with an ex-dividend date of May 18 and payment on June 1.
• Insiders sold about 95,923 shares (~$16.4 million) over the last quarter, institutional investors own roughly 76.9% of the stock, and analysts have a mixed stance with a consensus "Hold" and an average target near $180.72.

Ticino Wealth purchased a new stake in Phillips 66 (NYSE:PSX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 37,275 shares of the oil and gas company's stock, valued at approximately $4,810,000. Phillips 66 makes up about 1.8% of Ticino Wealth's investment portfolio, making the stock its 13th biggest holding.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Phillips 66 by 11.6% during the 3rd quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company's stock worth $7,035,574,000 after acquiring an additional 5,356,558 shares during the period. Amundi increased its stake in Phillips 66 by 2.8% in the third quarter. Amundi now owns 2,400,180 shares of the oil and gas company's stock valued at $319,123,000 after acquiring an additional 65,568 shares during the last quarter. Legal & General Group Plc increased its stake in Phillips 66 by 1.5% in the third quarter. Legal & General Group Plc now owns 2,276,036 shares of the oil and gas company's stock valued at $309,586,000 after acquiring an additional 33,397 shares during the last quarter. AQR Capital Management LLC raised its position in Phillips 66 by 424.7% during the third quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company's stock valued at $257,512,000 after purchasing an additional 1,532,389 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its stake in Phillips 66 by 1.9% during the third quarter. Raymond James Financial Inc. now owns 1,534,830 shares of the oil and gas company's stock worth $208,768,000 after purchasing an additional 28,917 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

NYSE:PSX opened at $156.58 on Tuesday. The stock's 50-day moving average is $166.51 and its 200-day moving average is $147.32. Phillips 66 has a 1-year low of $98.45 and a 1-year high of $190.61. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62. The stock has a market cap of $62.75 billion, a P/E ratio of 14.52, a price-to-earnings-growth ratio of 0.28 and a beta of 0.76.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.32. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.The company had revenue of $32.16 billion for the quarter, compared to analysts' expectations of $33.81 billion. During the same period last year, the business earned ($0.15) EPS. Equities research analysts anticipate that Phillips 66 will post 13.37 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. Investors of record on Monday, May 18th will be paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, May 18th. Phillips 66's payout ratio is presently 46.95%.

Insiders Place Their Bets

In other news, EVP Vanessa Allen Sutherland sold 4,394 shares of the business's stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total transaction of $659,100.00. Following the completion of the transaction, the executive vice president directly owned 25,799 shares in the company, valued at $3,869,850. The trade was a 14.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian Mandell sold 42,800 shares of the stock in a transaction on 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 directly owned 61,595 shares in the company, valued at approximately $10,442,200.35. This represents a 41.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 95,923 shares of company stock worth $16,399,619 over the last quarter. Insiders own 0.40% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PSX shares. The Goldman Sachs Group raised their target price on Phillips 66 from $186.00 to $192.00 and gave the company a "neutral" rating in a report on Friday, April 10th. TD Cowen upped their price objective on Phillips 66 from $155.00 to $213.00 and gave the stock a "buy" rating in a research report on Wednesday, April 1st. Piper Sandler raised their price objective on Phillips 66 from $168.00 to $177.00 and gave the company a "neutral" rating in a research note on Wednesday, April 8th. Wells Fargo & Company lifted their target price on Phillips 66 from $163.00 to $201.00 and gave the company an "overweight" rating in a research report on Tuesday, March 31st. Finally, JPMorgan Chase & Co. increased their target price on shares of Phillips 66 from $161.00 to $188.00 and gave the stock an "overweight" rating in a report on Wednesday, April 8th. Eleven analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $180.72.

Phillips 66 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.

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