Aviva PLC Increases Position in Phillips 66 $PSX

Aviva PLC lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 6.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 311,887 shares of the oil and gas company’s stock after acquiring an additional 18,946 shares during the quarter. Aviva PLC’s holdings in Phillips 66 were worth $37,208,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PSX. Wolff Wiese Magana LLC raised its stake in shares of Phillips 66 by 62.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 82 shares during the period. Pinpoint Asset Management Ltd bought a new stake in shares of Phillips 66 in the 1st quarter worth approximately $29,000. Webster Bank N. A. lifted its stake in Phillips 66 by 58.8% in the second quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Nova Wealth Management Inc. bought a new position in Phillips 66 during the first quarter valued at $37,000. Finally, GKV Capital Management Co. Inc. increased its position in Phillips 66 by 111.5% in the first quarter. GKV Capital Management Co. Inc. now owns 330 shares of the oil and gas company’s stock worth $41,000 after buying an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other news, Director Gregory Hayes bought 8,350 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 14th. The shares were acquired at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the purchase, the director directly owned 29,423 shares in the company, valued at $3,527,817.70. The trade was a 39.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the sale, the executive vice president directly owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. This trade represents a 11.27% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.22% of the stock is currently owned by insiders.

Phillips 66 Stock Performance

Shares of PSX opened at $137.80 on Monday. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.35. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The company has a market cap of $55.52 billion, a PE ratio of 37.65, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08. The stock has a 50-day moving average price of $133.20 and a 200-day moving average price of $124.96.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The business had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. During the same period last year, the firm posted $2.04 earnings per share. As a group, equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s payout ratio is currently 131.15%.

Wall Street Analyst Weigh In

PSX has been the topic of a number of recent research reports. UBS Group upped their price target on Phillips 66 from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Phillips 66 in a research report on Wednesday, October 8th. Cowen reaffirmed a “buy” rating on shares of Phillips 66 in a report on Thursday, October 30th. Barclays lifted their price objective on shares of Phillips 66 from $127.00 to $132.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Finally, Morgan Stanley increased their target price on Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat.com, Phillips 66 currently has an average rating of “Hold” and a consensus target price of $143.56.

Phillips 66 Profile

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.