AIA Group Ltd Increases Stock Holdings in Phillips 66 $PSX

AIA Group Ltd raised its position in shares of Phillips 66 (NYSE:PSX) by 558.7% in the first quarter, HoldingsChannel reports. The firm owned 15,314 shares of the oil and gas company’s stock after buying an additional 12,989 shares during the quarter. AIA Group Ltd’s holdings in Phillips 66 were worth $2,790,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in PSX. Clifford Group LLC boosted its holdings in shares of Phillips 66 by 2.0% in the fourth quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock worth $428,000 after buying an additional 64 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its holdings in Phillips 66 by 0.8% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 8,255 shares of the oil and gas company’s stock valued at $1,504,000 after buying an additional 65 shares during the last quarter. CYBER HORNET ETFs LLC increased its holdings in Phillips 66 by 5.7% during 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 position in 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 worth $414,000 after acquiring an additional 72 shares during the period. Finally, Johnson Financial Group Inc. raised its position in Phillips 66 by 11.9% in the fourth quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company’s stock worth $88,000 after acquiring an additional 72 shares during the period. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Phillips 66 from $180.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. JPMorgan Chase & Co. raised their target price on Phillips 66 from $188.00 to $202.00 in a report on Thursday, April 30th. BMO Capital Markets lifted their target price on Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Jefferies Financial Group boosted their price target on Phillips 66 from $191.00 to $207.00 and gave the company a “hold” rating in a report on Thursday, July 9th. Finally, The Goldman Sachs Group upped their price target on Phillips 66 from $192.00 to $207.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $196.06.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 29,400 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $16,553,920. This represents a 23.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kevin Omar Meyers purchased 175 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were purchased at an average price of $173.12 per share, with a total value of $30,296.00. Following the acquisition, the director directly owned 16,799 shares in the company, valued at $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have sold 41,021 shares of company stock valued at $7,195,257. Company insiders own 0.40% of the company’s stock.

Phillips 66 Price Performance

PSX stock opened at $206.96 on Monday. Phillips 66 has a one year low of $118.07 and a one year high of $207.14. The company’s fifty day moving average price is $179.03 and its 200-day moving average price is $165.75. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. The company has a market capitalization of $82.97 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 0.27 and a beta of 0.69.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating the consensus estimate of ($0.54) by $1.03. The company had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. Phillips 66’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the company posted ($0.90) earnings per share. On average, equities analysts anticipate that Phillips 66 will post 19.84 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s dividend payout ratio is 50.05%.

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.