B. Metzler seel. Sohn & Co. AG Buys Shares of 75,146 Phillips 66 $PSX

B. Metzler seel. Sohn & Co. AG purchased a new position in shares of Phillips 66 (NYSE:PSX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 75,146 shares of the oil and gas company's stock, valued at approximately $12,703,000.

Other institutional investors have also recently made changes to their positions in the company. Key Client Fiduciary Advisors LLC lifted its holdings in shares of Phillips 66 by 3.5% in the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 1,624 shares of the oil and gas company's stock worth $275,000 after acquiring an additional 55 shares during the last quarter. Threadgill Financial LLC increased its holdings in Phillips 66 by 3.5% in the 2nd quarter. Threadgill Financial LLC now owns 1,693 shares of the oil and gas company's stock valued at $286,000 after purchasing an additional 58 shares during the last quarter. Calamos Wealth Management LLC raised its position in Phillips 66 by 2.0% in the second quarter. Calamos Wealth Management LLC now owns 3,084 shares of the oil and gas company's stock valued at $521,000 after purchasing an additional 60 shares during the period. Somerset Trust Co raised its position in Phillips 66 by 0.3% in the second quarter. Somerset Trust Co now owns 21,301 shares of the oil and gas company's stock valued at $3,601,000 after purchasing an additional 63 shares during the period. Finally, Clifford Group LLC lifted its stake in Phillips 66 by 2.0% during the fourth quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company's stock worth $428,000 after purchasing an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group boosted their price objective on Phillips 66 from $207.00 to $235.00 and gave the company a "neutral" rating in a report on Wednesday, July 22nd. Citigroup reaffirmed a "neutral" rating on shares of Phillips 66 in a research report on Thursday, August 6th. Jefferies Financial Group boosted their price target on shares of Phillips 66 from $191.00 to $207.00 and gave the stock a "hold" rating in a research note on Thursday, July 9th. Barclays increased their price target on shares of Phillips 66 from $183.00 to $216.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 6th. Finally, UBS Group raised their price objective on shares of Phillips 66 from $212.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $206.56.

Insider Activity

In related news, EVP Vanessa Allen Sutherland sold 3,523 shares of the business's stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total transaction of $743,529.15. Following the completion of the transaction, the executive vice president owned 27,537 shares in the company, valued at approximately $5,811,683.85. The trade was a 11.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Richard G. Harbison sold 52,100 shares of the firm's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $223.76, for a total value of $11,657,896.00. Following the completion of the sale, the executive vice president owned 39,094 shares in the company, valued at approximately $8,747,673.44. This represents a 57.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 100,507 shares of company stock valued at $21,770,810 over the last quarter. Company insiders own 0.40% of the company's stock.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $239.46 on Friday. Phillips 66 has a one year low of $122.25 and a one year high of $246.95. The company has a market cap of $95.55 billion, a PE ratio of 13.64, a P/E/G ratio of 0.18 and a beta of 0.68. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32. The business has a 50-day simple moving average of $197.59 and a 200-day simple moving average of $178.99.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share for the quarter, beating the consensus estimate of $7.50 by $1.91. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. The firm had revenue of $52.04 billion for the quarter, compared to analysts' expectations of $43.60 billion. During the same quarter last year, the company earned $2.38 earnings per share. On average, equities research analysts forecast that Phillips 66 will post 23.86 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a $1.27 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.1%. Phillips 66's dividend payout ratio is currently 28.95%.

Phillips 66 declared that its Board of Directors has approved a stock buyback plan on Friday, July 31st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 11.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its stock is undervalued.

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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