Generali Asset Management SPA SGR Sells 6,910 Shares of Phillips 66 $PSX

Key Points

• Generali Asset Management SPA SGR reduced its holdings in Phillips 66 by 15.9%, selling 6,910 shares and now owning a total of 36,574 shares valued at approximately $4.36 million.
• Phillips 66 reported impressive quarterly earnings with an EPS of $2.38, exceeding analysts' expectations, and had a revenue of $33.77 billion.
• The company announced a quarterly dividend of $1.20 per share, with an annualized yield of 3.7% and a payout ratio of 115.38%.

Generali Asset Management SPA SGR reduced its holdings in Phillips 66 (NYSE:PSX - Free Report) by 15.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,574 shares of the oil and gas company's stock after selling 6,910 shares during the period. Generali Asset Management SPA SGR's holdings in Phillips 66 were worth $4,363,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC increased its position in shares of Phillips 66 by 238.5% during the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock valued at $1,166,000 after purchasing an additional 7,214 shares during the period. GAMMA Investing LLC increased its position in shares of Phillips 66 by 15.2% during the first quarter. GAMMA Investing LLC now owns 9,634 shares of the oil and gas company's stock valued at $1,190,000 after purchasing an additional 1,268 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Phillips 66 by 20.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company's stock valued at $19,625,000 after purchasing an additional 26,825 shares during the period. Ritholtz Wealth Management bought a new stake in shares of Phillips 66 during the first quarter valued at approximately $290,000. Finally, Mission Wealth Management LP increased its position in shares of Phillips 66 by 13.2% during the first quarter. Mission Wealth Management LP now owns 6,355 shares of the oil and gas company's stock valued at $785,000 after purchasing an additional 743 shares during the period. 76.93% of the stock is owned by institutional investors.

Phillips 66 Price Performance

Phillips 66 stock opened at $129.69 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The firm has a market cap of $52.41 billion, a P/E ratio of 31.17, a P/E/G ratio of 1.84 and a beta of 1.11. The business's fifty day moving average is $130.05 and its two-hundred day moving average is $120.75. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $142.35.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping analysts' consensus estimates of $1.79 by $0.59. The company had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same quarter in the previous year, the firm earned $2.31 earnings per share. Equities research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 3.7%. Phillips 66's payout ratio is currently 115.38%.

Insiders Place Their Bets

In other news, Director Michael A. Heim purchased 1,000 shares of the business's stock in a transaction dated Wednesday, July 30th. The shares were acquired at an average price of $125.97 per share, with a total value of $125,970.00. Following the completion of the purchase, the director directly owned 12,043 shares of the company's stock, valued at $1,517,056.71. The trade was a 9.06% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company's stock in a transaction on Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the transaction, the executive vice president directly owned 34,587 shares in the company, valued at $4,842,180. This trade represents a 11.27% decrease in their position. The disclosure for this sale can be found here. Insiders purchased a total of 9,850 shares of company stock worth $1,188,910 in the last three months. Company insiders own 0.22% of the company's stock.

Analysts Set New Price Targets

PSX has been the topic of a number of research reports. Morgan Stanley boosted their price objective on Phillips 66 from $128.00 to $140.00 and gave the company an "equal weight" rating in a research report on Friday, October 3rd. Scotiabank restated a "sector perform" rating and set a $133.00 price objective on shares of Phillips 66 in a research report on Friday, July 11th. Mizuho boosted their price objective on Phillips 66 from $140.00 to $142.00 and gave the company a "neutral" rating in a research report on Monday, September 15th. Piper Sandler upped their price target on Phillips 66 from $154.00 to $155.00 and gave the company a "neutral" rating in a research report on Monday, September 29th. Finally, Cantor Fitzgerald initiated coverage on Phillips 66 in a research report on Wednesday, June 18th. They issued a "neutral" rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, Phillips 66 presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.75.

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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