Lbp Am Sa Has $2.03 Million Holdings in Phillips 66 $PSX

Key Points

• Lbp Am Sa reduced its holdings in Phillips 66 by 79.6% in the second quarter, leaving it with 16,971 shares worth approximately $2.03 million.
• Phillips 66 reported earnings of $2.38 per share, exceeding analysts' expectations, and generated revenues of $33.77 billion for the quarter.
• The company declared a quarterly dividend of $1.20, indicating a 3.6% yield, although the dividend payout ratio is notably high at 115.38%.

Lbp Am Sa cut its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 79.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,971 shares of the oil and gas company's stock after selling 66,285 shares during the quarter. Lbp Am Sa's holdings in Phillips 66 were worth $2,025,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Elliott Investment Management L.P. lifted its holdings in shares of Phillips 66 by 1,929.0% during the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company's stock worth $1,941,723,000 after buying an additional 14,950,000 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Phillips 66 by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company's stock worth $828,442,000 after buying an additional 682,459 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Phillips 66 by 15.9% during the first quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company's stock worth $588,489,000 after buying an additional 653,248 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Phillips 66 by 11.1% during the first quarter. Goldman Sachs Group Inc. now owns 3,781,064 shares of the oil and gas company's stock worth $466,886,000 after buying an additional 377,132 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Phillips 66 by 3.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,103,316 shares of the oil and gas company's stock valued at $383,197,000 after purchasing an additional 100,321 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $135.02 on Friday. The business's fifty day moving average price is $128.72 and its two-hundred day moving average price is $120.46. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $142.35. The stock has a market capitalization of $54.57 billion, a price-to-earnings ratio of 32.46, a price-to-earnings-growth ratio of 1.95 and a beta of 1.11. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79.

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

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Tuesday, August 19th. Phillips 66's dividend payout ratio is 115.38%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PSX shares. Argus upgraded Phillips 66 to a "strong-buy" rating in a research report on Thursday, July 31st. Barclays boosted their price objective on Phillips 66 from $115.00 to $127.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Cantor Fitzgerald started coverage on Phillips 66 in a research report on Wednesday, June 18th. They set a "neutral" rating on the stock. JPMorgan Chase & Co. set a $115.00 price objective on Phillips 66 in a research report on Wednesday, June 18th. Finally, Jefferies Financial Group boosted their price objective on Phillips 66 from $130.00 to $133.00 and gave the company a "hold" rating in a research report on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, Phillips 66 currently has a consensus rating of "Moderate Buy" and a consensus price target of $139.44.

Insider Buying and Selling

In other Phillips 66 news, Director Sigmund L. Cornelius bought 500 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were bought at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the completion of the acquisition, the director owned 21,543 shares of the company's stock, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael A. Heim bought 1,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The shares were acquired at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the acquisition, the director directly owned 12,043 shares of the company's stock, valued at approximately $1,517,056.71. The trade was a 9.06% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 9,850 shares of company stock valued at $1,188,910 and have sold 13,179 shares valued at $1,779,165. Company insiders own 0.22% of the company's stock.

Phillips 66 Company 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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