Eurizon Capital SGR S.p.A. Buys New Shares in Phillips 66 $PSX

Key Points

• Eurizon Capital SGR S.p.A. opened a new position in Phillips 66 during the fourth quarter, buying 64,859 shares worth about $8.37 million.
• Phillips 66 drew continued attention from institutional investors and analysts, with several firms raising price targets; the stock now carries a Moderate Buy consensus and an average target price of $191.28.
• The company reported better-than-expected earnings for the latest quarter, declared a $1.27 quarterly dividend, and shares were trading near $175.79 with a 2.9% annualized yield.

Eurizon Capital SGR S.p.A. bought a new stake in shares of Phillips 66 (NYSE:PSX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 64,859 shares of the oil and gas company's stock, valued at approximately $8,371,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Board of the Pension Protection Fund bought a new position in shares of Phillips 66 during the 4th quarter valued at $26,000. Accordant Advisory Group Inc grew its holdings in shares of Phillips 66 by 900.0% during the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company's stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in shares of Phillips 66 during the 4th quarter valued at $27,000. Stephens Consulting LLC grew its holdings in shares of Phillips 66 by 67.7% during the 4th quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company's stock valued at $29,000 after purchasing an additional 90 shares during the last quarter. Finally, Dorato Capital Management bought a new position in shares of Phillips 66 during the 4th quarter valued at $35,000. Institutional investors own 76.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. TD Cowen raised their price target on shares of Phillips 66 from $155.00 to $213.00 and gave the stock a "buy" rating in a report on Wednesday, April 1st. BMO Capital Markets raised their price target on shares of Phillips 66 from $195.00 to $215.00 and gave the stock an "outperform" rating in a report on Wednesday, May 13th. UBS Group raised their price target on shares of Phillips 66 from $172.00 to $212.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. Morgan Stanley reissued an "overweight" rating and issued a $180.00 price target on shares of Phillips 66 in a report on Thursday, April 30th. Finally, Argus raised their price target on shares of Phillips 66 from $185.00 to $197.00 and gave the stock a "buy" rating in a report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Phillips 66 has a consensus rating of "Moderate Buy" and an average target price of $191.28.

Phillips 66 Trading Down 0.0%

Shares of PSX opened at $175.79 on Monday. The firm's 50-day moving average price is $172.38 and its 200-day moving average price is $154.77. The firm has a market capitalization of $70.48 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.26 and a beta of 0.68. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. Phillips 66 has a 1-year low of $111.19 and a 1-year high of $190.61.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share 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 net margin of 2.99% and a return on equity of 10.98%. The company's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.90) EPS. Sell-side analysts anticipate that Phillips 66 will post 17.64 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be paid a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.9%. Phillips 66's payout ratio is presently 50.05%.

Insider Activity at Phillips 66

In related news, Director Kevin Omar Meyers bought 175 shares of the business's stock in a transaction dated Wednesday, May 6th. The shares were purchased at an average price of $173.12 per share, with a total value of $30,296.00. Following the purchase, the director owned 16,799 shares of the company's stock, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lisa Ann Davis sold 3,800 shares of Phillips 66 stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $174.37, for a total transaction of $662,606.00. Following the sale, the director directly owned 8,701 shares in the company, valued at $1,517,193.37. The trade was a 30.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 114,029 shares of company stock worth $19,641,455. 0.40% of the stock is currently owned by company insiders.

Phillips 66 Company 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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