Generali Asset Management SPA SGR Buys 22,006 Shares of Phillips 66 $PSX

Key Points

• Generali Asset Management increased its Phillips 66 stake by 63.5% in the fourth quarter, buying 22,006 more shares and lifting its total holding to 56,647 shares worth about $7.31 million.
• Phillips 66 reported quarterly EPS of $0.49, beating expectations, though revenue of $32.54 billion fell short of analyst estimates; the company also posted 6.9% revenue growth year over year.
• The company announced a quarterly dividend of $1.27 per share, payable June 1, which works out to an annualized dividend of $5.08 and a yield of about 3.0%.

Generali Asset Management SPA SGR boosted its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 63.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,647 shares of the oil and gas company's stock after acquiring an additional 22,006 shares during the period. Generali Asset Management SPA SGR's holdings in Phillips 66 were worth $7,310,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PSX. MGO One Seven LLC boosted its position in shares of Phillips 66 by 28.0% in the fourth quarter. MGO One Seven LLC now owns 11,948 shares of the oil and gas company's stock worth $1,542,000 after purchasing an additional 2,613 shares during the period. Crestwood Advisors Group LLC raised its position in shares of Phillips 66 by 33.0% during the 4th quarter. Crestwood Advisors Group LLC now owns 2,145 shares of the oil and gas company's stock valued at $277,000 after purchasing an additional 532 shares during the period. Retirement Planning Group LLC raised its position in shares of Phillips 66 by 33.5% during the 4th quarter. Retirement Planning Group LLC now owns 2,407 shares of the oil and gas company's stock valued at $311,000 after purchasing an additional 604 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Phillips 66 by 19.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 36,616 shares of the oil and gas company's stock valued at $4,725,000 after buying an additional 5,940 shares in the last quarter. Finally, WealthShield Partners LLC boosted its holdings in Phillips 66 by 48.0% in the 4th quarter. WealthShield Partners LLC now owns 2,954 shares of the oil and gas company's stock worth $381,000 after buying an additional 958 shares during the period. Hedge funds and other institutional investors own 76.93% of the company's stock.

Insider Buying and Selling at Phillips 66

In related news, CFO Kevin J. Mitchell sold 15,629 shares of the stock in a transaction on Monday, March 30th. The stock was sold at an average price of $190.07, for a total transaction of $2,970,604.03. Following the sale, the chief financial officer owned 97,376 shares in the company, valued at approximately $18,508,256.32. This represents a 13.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kevin Omar Meyers purchased 175 shares of the firm's stock in a transaction that occurred on Wednesday, May 6th. The shares were bought at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the acquisition, the director directly owned 16,799 shares in the company, valued at $2,908,242.88. This trade represents a 1.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders sold 91,529 shares of company stock valued at $15,740,519. Corporate insiders own 0.40% of the company's stock.

Analyst Ratings Changes

PSX has been the subject of a number of analyst reports. Citigroup increased their price target on Phillips 66 from $159.00 to $183.00 and gave the stock a "neutral" rating in a research note on Thursday, April 9th. Tudor Pickering raised Phillips 66 from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. Scotiabank boosted their price target on Phillips 66 from $140.00 to $151.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 22nd. Mizuho upped their price target on Phillips 66 from $152.00 to $170.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 17th. Finally, Weiss Ratings lowered shares of Phillips 66 from a "buy (b-)" rating to a "hold (c)" rating in a report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, Phillips 66 has a consensus rating of "Moderate Buy" and a consensus price target of $184.50.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $171.42 on Friday. Phillips 66 has a 52 week low of $109.39 and a 52 week high of $190.61. The stock has a market capitalization of $68.73 billion, a P/E ratio of 16.89, a PEG ratio of 0.25 and a beta of 0.70. The firm has a fifty day simple moving average of $168.80 and a two-hundred day simple moving average of $150.20. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63.

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 (EPS) for the quarter, beating the consensus estimate of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm had revenue of $32.54 billion for the quarter, compared to analysts' expectations of $35.86 billion. During the same period in the prior year, the company earned ($0.90) EPS. The business's revenue was up 6.9% compared to the same quarter last year. On average, analysts expect that Phillips 66 will post 17.39 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be given a dividend of $1.27 per share. The ex-dividend date is Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a yield of 3.0%. Phillips 66's dividend payout ratio is 50.05%.

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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