Natixis Advisors LLC Purchases 4,046 Shares of Phillips 66 (NYSE:PSX)

Key Points

• Natixis Advisors LLC increased its stake in Phillips 66 by 2.1%, now holding 193,222 shares valued at approximately $23.9 million.
• Large investors, including Price T Rowe Associates and Northern Trust, have significantly boosted their positions in Philips 66, contributing to a collective 76.93% ownership from institutional investors.
• Phillips 66 recently announced a quarterly dividend of $1.20 per share, with an annualized dividend yield of 4.0%, although its dividend payout ratio stands at a high 115.38%.

Natixis Advisors LLC grew its position in Phillips 66 (NYSE:PSX - Free Report) by 2.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 193,222 shares of the oil and gas company's stock after purchasing an additional 4,046 shares during the period. Natixis Advisors LLC's holdings in Phillips 66 were worth $23,859,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Pacific Center for Financial Services purchased a new position in Phillips 66 during the fourth quarter worth approximately $27,000. von Borstel & Associates Inc. purchased a new stake in shares of Phillips 66 in the first quarter valued at approximately $27,000. Olde Wealth Management LLC purchased a new stake in shares of Phillips 66 in the first quarter valued at approximately $28,000. Wood Tarver Financial Group LLC purchased a new position in Phillips 66 in the fourth quarter worth approximately $29,000. Finally, Opal Wealth Advisors LLC purchased a new position in Phillips 66 in the first quarter worth approximately $29,000. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Trading Up 1.6%

NYSE PSX traded up $1.86 during trading on Monday, reaching $121.46. 2,102,205 shares of the stock traded hands, compared to its average volume of 2,762,663. The firm has a market cap of $49.08 billion, a price-to-earnings ratio of 29.20, a price-to-earnings-growth ratio of 1.63 and a beta of 1.09. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $140.85. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The stock's 50-day moving average price is $122.41 and its 200 day moving average price is $118.89.

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

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Tuesday, August 19th. Phillips 66's dividend payout ratio is presently 115.38%.

Insider Activity

In other news, Director Michael A. Heim acquired 1,000 shares of Phillips 66 stock in a transaction on Wednesday, July 30th. The shares were purchased at an average cost of $125.97 per share, for a total transaction of $125,970.00. Following the completion of the purchase, the director directly owned 12,043 shares of the company's stock, valued at approximately $1,517,056.71. This represents a 9.06% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Brian Mandell sold 9,800 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the completion of the sale, the executive vice president owned 56,838 shares in the company, valued at approximately $7,104,750. The trade was a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders acquired 1,939 shares of company stock valued at $237,725. Company insiders own 0.22% of the company's stock.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of research reports. Piper Sandler upped their price target on Phillips 66 from $144.00 to $145.00 and gave the stock a "neutral" rating in a research note on Monday. Citigroup lowered Phillips 66 from a "buy" rating to a "neutral" rating and raised their price target for the stock from $126.00 to $130.00 in a report on Wednesday, July 16th. Scotiabank reaffirmed a "sector perform" rating and issued a $133.00 price objective on shares of Phillips 66 in a report on Friday, July 11th. Compass Point started coverage on Phillips 66 in a research report on Wednesday, June 18th. They set a "buy" rating for the company. Finally, Tudor Pickering downgraded Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of "Hold" and a consensus target price of $136.20.

About Phillips 66

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.