Sienna Gestion Takes $1.32 Million Position in Phillips 66 $PSX

Sienna Gestion acquired a new stake in Phillips 66 (NYSE:PSX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,224 shares of the oil and gas company’s stock, valued at approximately $1,318,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PSX. Vanguard Group Inc. increased its position in shares of Phillips 66 by 11.6% during the third quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company’s stock worth $7,035,574,000 after acquiring an additional 5,356,558 shares during the period. Norges Bank purchased a new stake in shares of Phillips 66 during the fourth quarter worth $640,206,000. M&T Bank Corp increased its position in shares of Phillips 66 by 462.9% during the fourth quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock worth $352,007,000 after acquiring an additional 2,243,268 shares during the period. AQR Capital Management LLC increased its position in shares of Phillips 66 by 424.7% during the third quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock worth $257,512,000 after acquiring an additional 1,532,389 shares during the period. Finally, Worldquant Millennium Advisors LLC purchased a new stake in shares of Phillips 66 during the second quarter worth $107,967,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $172.90 on Tuesday. The firm has a market capitalization of $69.32 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 0.26 and a beta of 0.68. The business’s fifty day moving average price is $172.42 and its 200 day moving average price is $158.19. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. Phillips 66 has a 12 month low of $118.00 and a 12 month high of $190.61.

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, beating the consensus estimate of ($0.54) by $1.03. The firm had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.Phillips 66’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.90) earnings per share. On average, sell-side analysts anticipate that Phillips 66 will post 17.95 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were issued a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, May 18th. Phillips 66’s dividend payout ratio is 50.05%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Kevin Omar Meyers bought 175 shares of the company’s stock in a transaction that occurred 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 completion of the acquisition, the director directly owned 16,799 shares of the company’s stock, valued at $2,908,242.88. This represents a 1.05% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin J. Mitchell sold 29,400 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $170.00, for a total value of $4,998,000.00. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at $16,553,920. This trade represents a 23.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 45,629 shares of company stock worth $8,071,540 in the last three months. 0.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PSX. Raymond James Financial upped their price objective on Phillips 66 from $215.00 to $218.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 10th. Piper Sandler upped their price objective on Phillips 66 from $168.00 to $177.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 8th. Weiss Ratings lowered Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. UBS Group reaffirmed a “buy” rating and set a $212.00 price objective on shares of Phillips 66 in a research report on Monday. Finally, TD Cowen upped their price objective on Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a research report on Wednesday, April 1st. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $192.33.

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.