Havemeyer Place LP Purchases Shares of 14,518 Phillips 66 $PSX

Key Points

• Havemeyer Place LP initiated a new position in Phillips 66, buying 14,518 shares valued at about $1.87 million in the fourth quarter.
• Institutional ownership remains heavy, with 76.93% of Phillips 66 shares held by institutions and hedge funds. Several large firms, including Vanguard and Geode, also increased their stakes.
• Phillips 66 reported better-than-expected earnings of $0.49 per share for the quarter, and it recently paid a $1.27 quarterly dividend, equal to a 2.8% yield.

Havemeyer Place LP purchased a new stake in Phillips 66 (NYSE:PSX - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 14,518 shares of the oil and gas company's stock, valued at approximately $1,873,000.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Phillips 66 by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company's stock valued at $6,701,052,000 after acquiring an additional 205,480 shares during the last quarter. Geode Capital Management LLC raised its holdings in Phillips 66 by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company's stock valued at $1,338,596,000 after acquiring an additional 45,340 shares during the last quarter. Norges Bank acquired a new position in Phillips 66 in the 4th quarter valued at $640,206,000. M&T Bank Corp raised its holdings in Phillips 66 by 462.9% in the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company's stock valued at $352,007,000 after acquiring an additional 2,243,268 shares during the last quarter. Finally, Amundi raised its holdings in Phillips 66 by 2.8% in the 3rd quarter. Amundi now owns 2,400,180 shares of the oil and gas company's stock valued at $319,123,000 after acquiring an additional 65,568 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Down 0.5%

Shares of Phillips 66 stock opened at $183.30 on Friday. The company has a fifty day moving average price of $172.76 and a 200 day moving average price of $156.17. 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 twelve month low of $112.95 and a twelve month high of $190.61. The stock has a market cap of $73.49 billion, a price-to-earnings ratio of 18.06, a price-to-earnings-growth ratio of 0.27 and a beta of 0.68.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates 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 during 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 firm's revenue was up 6.9% on a year-over-year basis. Equities research analysts forecast that Phillips 66 will post 17.64 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, May 18th. Phillips 66's dividend payout ratio is presently 50.05%.

Insider Activity

In other Phillips 66 news, CFO Kevin J. Mitchell sold 29,400 shares of the company's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $170.00, for a total value of $4,998,000.00. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares of the company's stock, valued at $16,553,920. This represents a 23.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lisa Ann Davis sold 3,800 shares of the company's 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 completion of the transaction, the director directly owned 8,701 shares of the company's stock, valued at approximately $1,517,193.37. The trade was a 30.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 92,229 shares of company stock valued at $15,990,030. Corporate insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PSX. TD Cowen boosted their price objective on shares of Phillips 66 from $155.00 to $213.00 and gave the company a "buy" rating in a research note on Wednesday, April 1st. Weiss Ratings cut shares of Phillips 66 from a "buy (b-)" rating to a "hold (c)" rating in a research report on Friday, May 1st. Scotiabank upped their price target on shares of Phillips 66 from $140.00 to $151.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. UBS Group upped their price target on shares of Phillips 66 from $172.00 to $212.00 and gave the stock a "buy" rating in a research report on Thursday, April 2nd. Finally, Barclays upped their price target on shares of Phillips 66 from $158.00 to $177.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Phillips 66 has a consensus rating of "Moderate Buy" and a consensus price target of $191.28.

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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