Erste Asset Management GmbH Takes Position in Phillips 66 $PSX

Key Points

• Erste Asset Management GmbH has acquired a new stake in Phillips 66, purchasing 6,400 shares valued at approximately $779,000.
• Insider transactions include Director Sigmund L. Cornelius acquiring 500 shares and EVP Brian Mandell selling 9,800 shares, indicating changes in executive interest in the company.
• Phillips 66 reported $2.38 earnings per share for the last quarter, exceeding analysts' estimates, with a quarterly dividend of $1.20 per share set for distribution.

Erste Asset Management GmbH acquired a new stake in Phillips 66 (NYSE:PSX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,400 shares of the oil and gas company's stock, valued at approximately $779,000.

Several other hedge funds have also recently bought and sold shares of PSX. Venture Visionary Partners LLC grew its holdings in Phillips 66 by 0.6% during the 1st quarter. Venture Visionary Partners LLC now owns 70,592 shares of the oil and gas company's stock valued at $8,717,000 after buying an additional 409 shares during the last quarter. Credit Agricole S A lifted its stake in shares of Phillips 66 by 2.9% during the 1st quarter. Credit Agricole S A now owns 159,929 shares of the oil and gas company's stock worth $19,748,000 after purchasing an additional 4,447 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in shares of Phillips 66 by 3.0% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 9,839 shares of the oil and gas company's stock worth $1,215,000 after purchasing an additional 287 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Phillips 66 by 12.2% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,403 shares of the oil and gas company's stock worth $1,778,000 after purchasing an additional 1,567 shares during the period. Finally, Colonial Trust Advisors boosted its position in shares of Phillips 66 by 0.7% in the first quarter. Colonial Trust Advisors now owns 42,795 shares of the oil and gas company's stock worth $5,284,000 after acquiring an additional 313 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Phillips 66

In other news, Director Sigmund L. Cornelius acquired 500 shares of the business's stock in a transaction on Thursday, July 31st. The shares were purchased at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the acquisition, the director directly owned 21,543 shares of the company's stock, valued at $2,661,637.65. This represents a 2.38% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brian Mandell sold 9,800 shares of the business's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the completion of the transaction, the executive vice president owned 56,838 shares in the company, valued at $7,104,750. This represents a 14.71% decrease in their position. The disclosure for this sale can be found here. Insiders have acquired a total of 9,850 shares of company stock worth $1,188,910 over the last three months. Insiders own 0.22% of the company's stock.

Phillips 66 Stock Up 0.5%

Shares of Phillips 66 stock opened at $124.2240 on Friday. The company has a fifty day moving average price of $124.16 and a 200 day moving average price of $119.01. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $140.85. The stock has a market cap of $50.20 billion, a price-to-earnings ratio of 29.86, a price-to-earnings-growth ratio of 1.67 and a beta of 1.09.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The firm had revenue of $33.77 billion during the quarter, compared to analysts' expectations of $32.11 billion. During the same period in the prior year, the company earned $2.31 EPS. 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 Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be issued a $1.20 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a yield of 3.9%. Phillips 66's payout ratio is currently 115.38%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Mizuho upped their price objective on Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Scotiabank restated a "sector perform" rating and set a $133.00 price objective on shares of Phillips 66 in a report on Friday, July 11th. Cantor Fitzgerald assumed coverage on Phillips 66 in a report on Wednesday, June 18th. They set a "neutral" rating for the company. Argus upgraded Phillips 66 to a "strong-buy" rating in a report on Thursday, July 31st. Finally, UBS Group upped their price objective on Phillips 66 from $141.00 to $143.00 and gave the stock a "buy" rating in a report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, Phillips 66 presently has a consensus rating of "Moderate Buy" and a consensus target price of $136.20.

Phillips 66 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.

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