MUFG Securities EMEA plc Acquires 8,783 Shares of Phillips 66 $PSX

Key Points

• MUFG Securities EMEA plc more than doubled its Phillips 66 stake in the fourth quarter, buying 8,783 additional shares and bringing its total holdings to 16,518 shares worth about $2.13 million.
• Phillips 66 has seen mixed insider activity, with EVP Brian Mandell and CFO Kevin J. Mitchell recently selling shares; insiders sold 114,029 shares over the last 90 days, though they still own just 0.40% of the company.
• The stock is trading near its 52-week high after a 2.4% gain, and the company recently beat earnings expectations with Q1 EPS of $0.49 while also paying a quarterly dividend of $1.27 per share, yielding 2.8% annually.

MUFG Securities EMEA plc lifted its holdings in Phillips 66 (NYSE:PSX - Free Report) by 113.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,518 shares of the oil and gas company's stock after buying an additional 8,783 shares during the quarter. MUFG Securities EMEA plc's holdings in Phillips 66 were worth $2,131,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. CYBER HORNET ETFs LLC raised its holdings in shares of Phillips 66 by 5.7% in the fourth quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company's stock valued at $158,000 after buying an additional 66 shares during the last quarter. GHP Investment Advisors Inc. raised its holdings in shares of Phillips 66 by 2.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company's stock valued at $414,000 after buying an additional 72 shares during the last quarter. L2 Asset Management LLC raised its holdings in shares of Phillips 66 by 4.0% in the third 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 holdings in shares of Phillips 66 by 0.5% in the third 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. Finally, KCM Investment Advisors LLC raised its holdings in shares of Phillips 66 by 1.6% in the third quarter. KCM Investment Advisors LLC now owns 4,636 shares of the oil and gas company's stock valued at $631,000 after buying an additional 74 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Brian Mandell sold 42,800 shares of the company's 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 completion of the transaction, the executive vice president owned 61,595 shares of the company's stock, valued at $10,442,200.35. This represents a 41.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kevin J. Mitchell sold 29,400 shares of the company's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $170.00, for a total value of $4,998,000.00. Following the sale, the chief financial officer owned 97,376 shares in the company, valued at approximately $16,553,920. This represents a 23.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 114,029 shares of company stock worth $19,641,455. Insiders own 0.40% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on PSX. Piper Sandler boosted their price objective on Phillips 66 from $168.00 to $177.00 and gave the stock a "neutral" rating in a report on Wednesday, April 8th. TD Cowen boosted their price objective on Phillips 66 from $155.00 to $213.00 and gave the stock a "buy" rating in a report on Wednesday, April 1st. Wall Street Zen cut Phillips 66 from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 16th. Scotiabank boosted their price objective on Phillips 66 from $140.00 to $151.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 22nd. Finally, Citigroup increased their price target on shares of Phillips 66 from $159.00 to $183.00 and gave the company a "neutral" rating in a research report on Thursday, April 9th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, Phillips 66 has a consensus rating of "Moderate Buy" and an average target price of $191.28.

Phillips 66 Trading Up 2.4%

NYSE:PSX opened at $180.06 on Tuesday. Phillips 66 has a twelve month low of $111.19 and a twelve month high of $190.61. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The business has a 50 day moving average price of $172.41 and a two-hundred day moving average price of $155.05. The company has a market cap of $72.19 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 0.26 and a beta of 0.68.

Phillips 66 (NYSE:PSX - Get Free Report) last released 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 return on equity of 10.98% and a net margin of 2.99%.The firm had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. During the same quarter in the prior year, the firm posted ($0.90) EPS. The business's revenue was up 6.9% on a year-over-year basis. As a group, analysts expect that Phillips 66 will post 17.64 EPS for the current fiscal year.

Phillips 66 Announces Dividend

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

Phillips 66 Company 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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