Genus Capital Management Inc. Invests $1.71 Million in Phillips 66 $PSX

Key Points

• Genus Capital Management opened a new position in Phillips 66 during the fourth quarter, buying 13,225 shares valued at about $1.71 million.
• Phillips 66 reported better-than-expected earnings for the latest quarter, posting $0.49 EPS versus a forecast loss, even though revenue came in below analyst expectations.
• The company announced a quarterly dividend of $1.27 per share, equal to an annualized yield of about 2.9%; meanwhile, analysts remain generally positive with a consensus rating of Moderate Buy.

Genus Capital Management Inc. purchased a new position in Phillips 66 (NYSE:PSX - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,225 shares of the oil and gas company's stock, valued at approximately $1,707,000.

Several other institutional investors also recently bought and sold shares of PSX. GHP Investment Advisors Inc. boosted its position in Phillips 66 by 2.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company's stock valued at $414,000 after acquiring an additional 72 shares in the last quarter. L2 Asset Management LLC raised its stake in shares of Phillips 66 by 4.0% during the 3rd quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company's stock valued at $257,000 after buying an additional 72 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its stake in shares of Phillips 66 by 0.5% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company's stock valued at $2,130,000 after buying an additional 73 shares during the last quarter. KCM Investment Advisors LLC increased its stake in shares of Phillips 66 by 1.6% in the 3rd quarter. KCM Investment Advisors LLC now owns 4,636 shares of the oil and gas company's stock valued at $631,000 after purchasing an additional 74 shares in the last quarter. Finally, Abacus Planning Group Inc. increased its stake in shares of Phillips 66 by 3.9% in the 4th quarter. Abacus Planning Group Inc. now owns 1,989 shares of the oil and gas company's stock valued at $257,000 after purchasing an additional 74 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Phillips 66

In related news, Director Kevin Omar Meyers acquired 175 shares of the business's stock in a transaction dated Wednesday, May 6th. The shares were acquired at an average price of $173.12 per share, with a total value of $30,296.00. Following the completion of the transaction, the director owned 16,799 shares of the company's stock, valued at $2,908,242.88. The trade was a 1.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Brian Mandell sold 42,800 shares of the company's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $169.53, for a total value of $7,255,884.00. Following the sale, the executive vice president directly owned 61,595 shares in the company, valued at $10,442,200.35. This represents a 41.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 114,029 shares of company stock worth $19,641,455 in the last ninety days. 0.40% of the stock is owned by company insiders.

Phillips 66 Trading Up 0.2%

PSX opened at $178.03 on Monday. Phillips 66 has a one year low of $111.19 and a one year high of $190.61. The stock has a market capitalization of $71.38 billion, a PE ratio of 17.54, a P/E/G ratio of 0.26 and a beta of 0.70. The business's 50 day moving average price is $172.12 and its 200 day moving average price is $153.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 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 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 firm posted ($0.90) earnings per share. The firm's quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts expect that Phillips 66 will post 17.64 EPS for the current year.

Phillips 66 Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PSX. TD Cowen lifted their price target on Phillips 66 from $155.00 to $213.00 and gave the company a "buy" rating in a research note on Wednesday, April 1st. Wolfe Research boosted their price objective on Phillips 66 from $187.00 to $193.00 and gave the stock an "outperform" rating in a research note on Monday, April 6th. Wall Street Zen lowered Phillips 66 from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. boosted their price objective on Phillips 66 from $188.00 to $202.00 in a research note on Thursday, April 30th. Finally, Scotiabank boosted their price objective on Phillips 66 from $140.00 to $151.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 22nd. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $187.11.

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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