Westpac Banking Corp Invests $369,000 in Phillips 66 $PSX

Westpac Banking Corp purchased a new position in shares of Phillips 66 (NYSE:PSX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,860 shares of the oil and gas company’s stock, valued at approximately $369,000.

Several other large investors also recently made changes to their positions in PSX. SCP Investment LP acquired a new stake in Phillips 66 in the fourth quarter valued at $387,000. Calton & Associates Inc. increased its stake in shares of Phillips 66 by 5.6% during the fourth quarter. Calton & Associates Inc. now owns 2,168 shares of the oil and gas company’s stock worth $280,000 after purchasing an additional 114 shares during the period. Beto Financial Group LLC acquired a new stake in shares of Phillips 66 during the fourth quarter worth $412,000. AXQ Capital LP acquired a new stake in shares of Phillips 66 during the fourth quarter worth $1,834,000. Finally, Spinnaker Trust boosted its position in shares of Phillips 66 by 2.0% in the fourth quarter. Spinnaker Trust now owns 3,901 shares of the oil and gas company’s stock valued at $503,000 after acquiring an additional 75 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.3%

Shares of Phillips 66 stock opened at $184.14 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. Phillips 66 has a 12-month low of $111.37 and a 12-month high of $190.61. The company has a market capitalization of $73.83 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 0.27 and a beta of 0.68. The firm’s 50-day moving average price is $172.71 and its two-hundred day moving average price is $155.98.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. The company had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.90) EPS. On average, analysts forecast that Phillips 66 will post 17.64 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 2.8%. The ex-dividend date was Monday, May 18th. Phillips 66’s payout ratio is currently 50.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PSX shares. Guggenheim raised shares of Phillips 66 to an “outperform” rating in a research report on Wednesday, May 27th. BMO Capital Markets lifted their price objective on shares of Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. UBS Group boosted their price objective on shares of Phillips 66 from $172.00 to $212.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Finally, Wall Street Zen downgraded shares of Phillips 66 from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.28.

Insiders Place Their Bets

In other Phillips 66 news, Director Lisa Ann Davis sold 3,800 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $174.37, for a total value of $662,606.00. Following the sale, the director owned 8,701 shares of the company’s stock, valued at approximately $1,517,193.37. This trade represents a 30.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kevin Omar Meyers purchased 175 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was acquired at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the purchase, the director 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 92,229 shares of company stock valued at $15,990,030 over the last ninety days. Company insiders own 0.40% of the company’s stock.

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.