Fideuram Intesa Sanpaolo Private Banking S.P.A. Acquires Shares of 5,928 Phillips 66 $PSX

Key Points

• Fideuram Intesa Sanpaolo Private Banking opened a new position in Phillips 66, buying 5,928 shares valued at about $1.08 million in the first quarter.
• Phillips 66 reported better-than-expected quarterly earnings of $0.49 per share, though revenue of $32.54 billion came in below analyst estimates; the company also maintained solid profitability metrics.
• The company paid a quarterly dividend of $1.27 per share, equal to an annualized yield of about 2.9%, while analysts currently rate the stock a Moderate Buy with an average target price of $192.72.

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Phillips 66 (NYSE:PSX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,928 shares of the oil and gas company's stock, valued at approximately $1,080,000.

A number of other large investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $640,206,000. M&T Bank Corp lifted its stake in Phillips 66 by 462.9% during the fourth quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company's stock worth $352,007,000 after purchasing an additional 2,243,268 shares during the last quarter. AQR Capital Management LLC lifted its stake 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 worth $257,512,000 after purchasing an additional 1,532,389 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new position in Phillips 66 during the second quarter worth $107,967,000. Finally, NewEdge Advisors LLC boosted its holdings in Phillips 66 by 732.0% in the fourth quarter. NewEdge Advisors LLC now owns 996,955 shares of the oil and gas company's stock worth $128,647,000 after purchasing an additional 877,131 shares during the period. Institutional investors own 76.93% of the company's stock.

Insider Activity

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 shares were sold at an average price of $171.56, for a total transaction of $102,936.00. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares of the company's stock, valued at $16,705,826.56. The trade was a 0.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kevin Omar Meyers bought 175 shares of the firm's stock in a transaction on Wednesday, May 6th. The stock was purchased at an average price of $173.12 per share, with a total value of $30,296.00. Following the transaction, the director owned 16,799 shares in the company, valued at $2,908,242.88. The trade was a 1.05% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.40% of the company's stock.

Phillips 66 Price Performance

Shares of PSX opened at $176.40 on Friday. Phillips 66 has a 12 month low of $118.07 and a 12 month high of $190.61. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The stock has a fifty day moving average price of $174.43 and a 200 day moving average price of $161.15. The company has a market cap of $70.72 billion, a P/E ratio of 17.38, a PEG ratio of 0.24 and a beta of 0.69.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $32.54 billion for the quarter, compared to analysts' expectations of $35.86 billion. During the same period last year, the business posted ($0.90) earnings per share. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. On average, research analysts forecast that Phillips 66 will post 19.27 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. Investors of record on Monday, May 18th were given a $1.27 dividend. The ex-dividend date was Monday, May 18th. This represents a $5.08 annualized dividend and a yield of 2.9%. Phillips 66's dividend payout ratio (DPR) is currently 50.05%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Citigroup boosted their target price on shares of Phillips 66 from $159.00 to $183.00 and gave the company a "neutral" rating in a research note on Thursday, April 9th. Argus lifted their price target on shares of Phillips 66 from $185.00 to $197.00 and gave the company a "buy" rating in a report on Thursday, May 14th. UBS Group reaffirmed a "buy" rating and set a $212.00 price objective on shares of Phillips 66 in a research report on Monday, June 15th. Wolfe Research increased their price objective on shares of Phillips 66 from $187.00 to $193.00 and gave the stock an "outperform" rating in a research note on Monday, April 6th. Finally, Piper Sandler increased their price objective on shares of Phillips 66 from $168.00 to $177.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $192.72.

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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