Union Bancaire Privee UBP SA Purchases New Position in Phillips 66 (NYSE:PSX)

Union Bancaire Privee UBP SA bought a new position in shares of Phillips 66 (NYSE:PSX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,284 shares of the oil and gas company's stock, valued at approximately $262,000.

A number of other hedge funds have also recently bought and sold shares of PSX. Bogart Wealth LLC boosted its holdings in shares of Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 120 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Phillips 66 in the 4th quarter valued at $25,000. Pacific Center for Financial Services acquired a new position in shares of Phillips 66 in the 4th quarter valued at $27,000. Graney & King LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at $28,000. Finally, Wood Tarver Financial Group LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Stock Performance

NYSE:PSX traded up $0.68 during trading hours on Friday, hitting $122.20. 3,074,645 shares of the company traded hands, compared to its average volume of 3,033,784. The stock has a market capitalization of $49.79 billion, a price-to-earnings ratio of 24.74, a P/E/G ratio of 4.84 and a beta of 1.02. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $150.12. The firm has a 50-day moving average of $109.84 and a 200 day moving average of $117.46. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. The business had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. During the same period last year, the firm earned $1.90 EPS. On average, analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $1.20 dividend. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Monday, May 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.93%. Phillips 66's dividend payout ratio is presently 109.34%.

Insider Transactions at Phillips 66

In related news, Director Robert W. Pease acquired 439 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were purchased at an average price of $113.85 per share, with a total value of $49,980.15. Following the acquisition, the director now directly owns 4,091 shares in the company, valued at $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.22% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PSX shares. Scotiabank cut their target price on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Mizuho increased their price target on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. The Goldman Sachs Group downgraded shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective for the company. in a report on Thursday, March 27th. Wall Street Zen raised shares of Phillips 66 from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Phillips 66 from $138.00 to $131.00 and set an "overweight" rating for the company in a report on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Phillips 66 currently has an average rating of "Moderate Buy" and an average price target of $135.46.

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.