Union Bancaire Privee UBP SA Takes Position in Phillips 66 (NYSE:PSX)

Union Bancaire Privee UBP SA purchased a new stake in Phillips 66 (NYSE:PSX) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,284 shares of the oil and gas company’s stock, valued at approximately $262,000.

Other large investors have also added to or reduced their stakes in the company. Bogart Wealth LLC boosted its holdings in Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 120 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in Phillips 66 during the fourth quarter worth $25,000. Pacific Center for Financial Services acquired a new position in Phillips 66 during the fourth quarter worth $27,000. Graney & King LLC acquired a new position in Phillips 66 during the fourth quarter worth $28,000. Finally, Wood Tarver Financial Group LLC acquired a new position in Phillips 66 during the fourth quarter worth $29,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Activity

In other Phillips 66 news, Director Robert W. Pease purchased 439 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average cost of $113.85 per share, with a total value of $49,980.15. Following the completion of the transaction, the director now owns 4,091 shares in the company, valued at $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

PSX has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Phillips 66 from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Tuesday, April 29th. Tudor Pickering cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 22nd. UBS Group dropped their price target on shares of Phillips 66 from $144.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Mizuho upped their price target on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. Finally, Wall Street Zen raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a research report on Monday, April 28th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $135.46.

Phillips 66 Price Performance

Shares of PSX opened at $122.20 on Friday. The firm has a market capitalization of $49.79 billion, a PE ratio of 24.74, a PEG ratio of 4.84 and a beta of 1.02. The company’s 50-day moving average is $109.84 and its 200-day moving average is $117.57. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). The company had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the previous year, the company earned $1.90 earnings per share. Equities analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a $1.20 dividend. The ex-dividend date was Monday, May 19th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 3.93%. Phillips 66’s dividend payout ratio is presently 109.34%.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.