Union Bancaire Privee UBP SA Buys New Stake in Phillips 66 $PSX

Key Points

• Union Bancaire Privee UBP SA opened a new position in Phillips 66 during the first quarter, buying 10,936 shares valued at about $1.82 million.
• Phillips 66 saw mixed insider activity: CFO Kevin J. Mitchell sold 29,400 shares, while Director Kevin Omar Meyers bought 175 shares; overall, insiders have sold 45,629 shares over the last 90 days.
• Analyst sentiment remains Moderate Buy, with a consensus target price of $192.33; the stock recently traded at $171.84 and the company also paid a quarterly dividend of $1.27 per share.

Union Bancaire Privee UBP SA purchased a new position in Phillips 66 (NYSE:PSX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,936 shares of the oil and gas company's stock, valued at approximately $1,819,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSX. Board of the Pension Protection Fund acquired a new position in shares of Phillips 66 in the 4th quarter worth approximately $26,000. Accordant Advisory Group Inc boosted its stake in 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 buying an additional 180 shares in the last quarter. SWAN Capital LLC boosted its stake in Phillips 66 by 1,055.6% in the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company's stock valued at $27,000 after buying an additional 190 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in Phillips 66 in the fourth quarter valued at $27,000. Finally, Stephens Consulting LLC grew its position in Phillips 66 by 67.7% in the fourth 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 during the period. Institutional investors own 76.93% of the company's stock.

Insider Buying and Selling at Phillips 66

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 transaction of $4,998,000.00. Following the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,553,920. This represents a 23.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kevin Omar Meyers bought 175 shares of Phillips 66 stock in a transaction dated Wednesday, May 6th. The stock was acquired at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the purchase, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 45,629 shares of company stock worth $8,071,540 in the last ninety days. 0.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PSX. Jefferies Financial Group lifted their price objective on Phillips 66 from $173.00 to $191.00 and gave the company a "hold" rating in a report on Tuesday, May 26th. Wall Street Zen upgraded shares of Phillips 66 from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 13th. 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. The Goldman Sachs Group boosted their price target on shares of Phillips 66 from $192.00 to $207.00 and gave the company a "neutral" rating in a research report on Tuesday, May 19th. Finally, Zacks Research raised shares of Phillips 66 from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, Phillips 66 currently has an average rating of "Moderate Buy" and an average target price of $192.33.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $171.84 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $172.94 and a 200 day simple moving average of $160.01. Phillips 66 has a fifty-two week low of $118.00 and a fifty-two week high of $190.61. The firm has a market cap of $68.90 billion, a P/E ratio of 16.93, a P/E/G ratio of 0.24 and a beta of 0.68.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $1.03. The firm had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.90) EPS. Sell-side analysts predict that Phillips 66 will post 18.22 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, May 18th. Phillips 66's dividend payout ratio is 50.05%.

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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