Raiffeisen Bank International AG Raises Position in Phillips 66 $PSX

Raiffeisen Bank International AG boosted its holdings in Phillips 66 (NYSE:PSX) by 74.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,641 shares of the oil and gas company’s stock after purchasing an additional 3,269 shares during the period. Raiffeisen Bank International AG’s holdings in Phillips 66 were worth $1,051,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Evolution Wealth Management Inc. purchased a new position in shares of Phillips 66 in the second quarter worth about $25,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Phillips 66 during the 2nd quarter worth approximately $32,000. Winnow Wealth LLC purchased a new position in Phillips 66 in the 3rd quarter worth approximately $36,000. Twin Peaks Wealth Advisors LLC purchased a new position in Phillips 66 in the 2nd quarter worth approximately $38,000. Finally, Operose Advisors LLC lifted its position in Phillips 66 by 260.4% in the second quarter. Operose Advisors LLC now owns 346 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 250 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $155.72 on Monday. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $163.79. The firm has a market capitalization of $62.74 billion, a P/E ratio of 14.39, a P/E/G ratio of 0.55 and a beta of 0.90. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. The business has a fifty day simple moving average of $141.98 and a two-hundred day simple moving average of $136.19.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. Phillips 66 had a net margin of 3.22% and a return on equity of 9.28%. The firm had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. During the same period in the prior year, the firm earned ($0.15) EPS. On average, equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd will be paid a dividend of $1.27 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, February 23rd. Phillips 66’s payout ratio is 44.36%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PSX shares. Barclays set a $158.00 target price on shares of Phillips 66 in a report on Friday. TD Cowen reissued a “buy” rating on shares of Phillips 66 in a research report on Friday, February 6th. UBS Group reissued a “buy” rating and issued a $172.00 price target on shares of Phillips 66 in a report on Friday, February 6th. The Goldman Sachs Group upped their price objective on shares of Phillips 66 from $152.00 to $164.00 and gave the company a “neutral” rating in a research note on Thursday, January 22nd. Finally, Morgan Stanley increased their target price on shares of Phillips 66 from $140.00 to $147.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Ten investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $160.11.

Insider Activity

In other news, EVP Vanessa Allen Sutherland sold 4,394 shares of Phillips 66 stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total transaction of $659,100.00. Following the completion of the transaction, the executive vice president directly owned 25,799 shares in the company, valued at approximately $3,869,850. This trade represents a 14.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian Mandell sold 25,500 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $140.04, for a total value of $3,571,020.00. Following the completion of the sale, the executive vice president owned 56,838 shares in the company, valued at $7,959,593.52. The trade was a 30.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 41,788 shares of company stock worth $6,067,250. Insiders own 0.22% 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.