Pictet Asset Management Holding SA Has $43.93 Million Holdings in Phillips 66 $PSX

Pictet Asset Management Holding SA increased its holdings in Phillips 66 (NYSE:PSX) by 12.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 241,073 shares of the oil and gas company’s stock after buying an additional 26,794 shares during the period. Pictet Asset Management Holding SA’s holdings in Phillips 66 were worth $43,932,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in PSX. Board of the Pension Protection Fund bought a new position in Phillips 66 during the 4th quarter worth $26,000. Accordant Advisory Group Inc lifted its position in shares of Phillips 66 by 900.0% during the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 180 shares during the period. SWAN Capital LLC grew its holdings in shares of Phillips 66 by 1,055.6% during the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 190 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of Phillips 66 during the 4th quarter worth $27,000. Finally, Stephens Consulting LLC increased its position in shares of Phillips 66 by 67.7% in the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 90 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Insider Activity at Phillips 66

In related news, Director Kevin Omar Meyers acquired 175 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was acquired at an average price of $173.12 per share, with a total value of $30,296.00. Following the purchase, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin J. Mitchell sold 29,400 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer owned 97,376 shares in the company, valued at $16,553,920. This represents a 23.19% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.40% of the stock is owned by corporate insiders.

Phillips 66 Stock Performance

Phillips 66 stock opened at $169.05 on Wednesday. Phillips 66 has a 12-month low of $118.07 and a 12-month high of $190.61. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The business’s 50-day moving average price is $173.41 and its two-hundred day moving average price is $160.58. The stock has a market cap of $67.78 billion, a PE ratio of 16.66, a P/E/G ratio of 0.25 and a beta of 0.68.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. During the same quarter in the prior year, the business earned ($0.90) earnings per share. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, analysts expect that Phillips 66 will post 18.22 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, May 18th. Phillips 66’s dividend payout ratio is currently 50.05%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Zacks Research raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Mizuho raised shares of Phillips 66 from a “neutral” rating to an “outperform” rating and raised their target price for the company from $170.00 to $212.00 in a report on Wednesday, May 27th. Jefferies Financial Group boosted their target price on shares of Phillips 66 from $173.00 to $191.00 and gave the company a “hold” rating in a research report on Tuesday, May 26th. Argus upped their price target on shares of Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, Scotiabank increased their price target on shares of Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $192.72.

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.