BNP Paribas Takes $1.50 Million Position in Phillips 66 $PSX

Key Points

• BNP Paribas opened a new position in Phillips 66 during the fourth quarter, buying 11,651 shares valued at about $1.5 million.
• Phillips 66 reported better-than-expected quarterly earnings of $0.49 per share, though revenue came in below analyst forecasts at $32.54 billion.
• The company recently paid a quarterly dividend of $1.27 per share, implying an annualized yield of 2.8%, while analysts maintain a Moderate Buy consensus with an average price target of $191.28.

BNP Paribas purchased a new stake in Phillips 66 (NYSE:PSX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 11,651 shares of the oil and gas company's stock, valued at approximately $1,504,000.

Several other hedge funds and other institutional investors have also modified their holdings of PSX. Cercano Management LLC acquired a new stake in Phillips 66 during the fourth quarter worth $1,358,000. GW Henssler & Associates Ltd. boosted its stake in Phillips 66 by 2.6% during the fourth quarter. GW Henssler & Associates Ltd. now owns 4,020 shares of the oil and gas company's stock worth $519,000 after buying an additional 100 shares in the last quarter. New Mexico Educational Retirement Board boosted its stake in Phillips 66 by 0.5% during the fourth quarter. New Mexico Educational Retirement Board now owns 18,528 shares of the oil and gas company's stock worth $2,391,000 after buying an additional 100 shares in the last quarter. SCS Capital Management LLC boosted its stake in Phillips 66 by 1.7% during the fourth quarter. SCS Capital Management LLC now owns 7,979 shares of the oil and gas company's stock worth $1,030,000 after buying an additional 132 shares in the last quarter. Finally, Lcnb Corp boosted its stake in Phillips 66 by 6.6% during the fourth quarter. Lcnb Corp now owns 3,209 shares of the oil and gas company's stock worth $414,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Stock Up 1.3%

Shares of PSX opened at $182.54 on Wednesday. The firm has a market capitalization of $73.19 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 0.26 and a beta of 0.68. 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 business's fifty day moving average price is $172.41 and its two-hundred day moving average price is $155.05. Phillips 66 has a 52 week low of $111.37 and a 52 week high of $190.61.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of ($0.54) by $1.03. The firm had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company earned ($0.90) EPS. On average, analysts predict that Phillips 66 will post 17.64 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Monday, May 18th. Phillips 66's payout ratio is currently 50.05%.

Analyst Ratings Changes

PSX has been the topic of a number of recent research reports. UBS Group lifted their price target on shares of Phillips 66 from $172.00 to $212.00 and gave the stock a "buy" rating in a research note on Thursday, April 2nd. BMO Capital Markets lifted their price target on shares of Phillips 66 from $195.00 to $215.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 13th. Morgan Stanley reiterated an "overweight" rating and set a $180.00 price target on shares of Phillips 66 in a research note on Thursday, April 30th. Barclays lifted their price target on shares of Phillips 66 from $158.00 to $177.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 8th. Finally, Argus lifted their price target on shares of Phillips 66 from $185.00 to $197.00 and gave the stock a "buy" rating in a research note on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $191.28.

Insider Transactions at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 600 shares of the business's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $171.56, for a total transaction of $102,936.00. Following the completion of the sale, the chief financial officer directly owned 97,376 shares of the company's stock, valued at approximately $16,705,826.56. The trade was a 0.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kevin Omar Meyers acquired 175 shares of the company's stock in a transaction on Wednesday, May 6th. The shares were purchased at an average cost of $173.12 per share, with a total value of $30,296.00. Following the completion of the acquisition, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders sold 109,085 shares of company stock valued at $18,825,546. 0.40% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.