Lbp Am Sa Raises Stake in Phillips 66 $PSX

Key Points

• Lbp Am Sa boosted its stake in Phillips 66 by 237.8% in Q4 to 56,380 shares worth $7.275 million, and institutional investors now own about 76.93% of the stock.
• Several analysts have raised price targets (e.g., UBS to $212, Argus to $185, Wolfe to $193), but the consensus rating remains a "Hold" with a $180.72 target (11 Buy, 12 Hold).
• Phillips 66 beat Q4 EPS estimates ($2.47 vs. $2.15) but missed revenue expectations, raised its quarterly dividend to $1.27 (3.1% yield), and insiders sold roughly 95,923 shares (~$16.4 million) last quarter.

Lbp Am Sa boosted its holdings in Phillips 66 (NYSE:PSX - Free Report) by 237.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 56,380 shares of the oil and gas company's stock after buying an additional 39,690 shares during the period. Lbp Am Sa's holdings in Phillips 66 were worth $7,275,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Board of the Pension Protection Fund purchased a new stake in Phillips 66 during the fourth quarter worth approximately $26,000. Accordant Advisory Group Inc raised its stake in shares of Phillips 66 by 900.0% in the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company's stock valued at $26,000 after acquiring an additional 180 shares during the period. Eagle Bay Advisors LLC acquired a new position in shares of Phillips 66 during the 4th quarter valued at $27,000. Stephens Consulting LLC lifted its holdings in shares of Phillips 66 by 67.7% during the 4th quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company's stock valued at $29,000 after acquiring an additional 90 shares in the last quarter. Finally, Dorato Capital Management purchased a new stake in Phillips 66 during the 4th quarter worth $35,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PSX has been the subject of several recent research reports. Argus increased their price target on Phillips 66 from $152.00 to $185.00 and gave the company a "buy" rating in a report on Tuesday, February 10th. UBS Group upped their target price on Phillips 66 from $172.00 to $212.00 and gave the stock a "buy" rating in a research report on Thursday, April 2nd. Wall Street Zen lowered Phillips 66 from a "strong-buy" rating to a "buy" rating in a research note on Saturday, April 11th. Mizuho raised their target price on Phillips 66 from $152.00 to $170.00 and gave the company a "neutral" rating in a report on Tuesday, March 17th. Finally, Wolfe Research boosted their price target on Phillips 66 from $187.00 to $193.00 and gave the stock an "outperform" rating in a research report on Monday, April 6th. Eleven research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of "Hold" and a consensus target price of $180.72.

Phillips 66 Stock Performance

Phillips 66 stock opened at $163.37 on Friday. Phillips 66 has a 12-month low of $95.70 and a 12-month high of $190.61. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.30 and a quick ratio of 0.91. The company has a market capitalization of $65.47 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 0.28 and a beta of 0.76. The firm's fifty day moving average price is $166.57 and its 200 day moving average price is $146.88.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.32. The company had revenue of $32.16 billion during the quarter, compared to analysts' expectations of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. During the same period in the prior year, the company posted ($0.15) EPS. On average, research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were issued a $1.27 dividend. This is an increase from Phillips 66's previous quarterly dividend of $1.20. This represents a $5.08 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, February 23rd. Phillips 66's dividend payout ratio (DPR) is currently 46.95%.

Insider Activity

In other Phillips 66 news, EVP Brian Mandell sold 42,800 shares of Phillips 66 stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $169.53, for a total transaction 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. The trade was a 41.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin J. Mitchell sold 15,629 shares of the company's stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $190.07, for a total value of $2,970,604.03. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $18,508,256.32. The trade was a 13.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 95,923 shares of company stock worth $16,399,619 over the last quarter. Corporate insiders own 0.40% of the company's stock.

About Phillips 66

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.