BNP Paribas Acquires New Holdings in Phillips 66 $PSX

BNP Paribas acquired a new stake in Phillips 66 (NYSE:PSX) in the 4th quarter, Holdings Channel.com reports. The fund acquired 11,651 shares of the oil and gas company’s stock, valued at approximately $1,504,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Board of the Pension Protection Fund acquired a new position in shares of Phillips 66 in the 4th quarter valued at approximately $26,000. Accordant Advisory Group Inc boosted its position in 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 worth $26,000 after acquiring an additional 180 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in Phillips 66 during the 4th quarter worth approximately $27,000. Stephens Consulting LLC boosted its position in Phillips 66 by 67.7% during the 4th quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 90 shares during the last quarter. Finally, Dorato Capital Management acquired a new position in Phillips 66 during the 4th quarter worth approximately $35,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Up 1.3%

PSX opened at $182.54 on Wednesday. Phillips 66 has a 1-year low of $111.37 and a 1-year high of $190.61. The stock’s fifty day simple moving average is $172.41 and its 200 day simple moving average is $155.05. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The stock has a market cap of $73.19 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 0.26 and a beta of 0.68.

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

Phillips 66 Dividend Announcement

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. The ex-dividend date was Monday, May 18th. This represents a $5.08 annualized dividend and a yield of 2.8%. Phillips 66’s dividend payout ratio (DPR) is presently 50.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PSX shares. BMO Capital Markets upped their price target on Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Tudor Pickering raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. TD Cowen upped their price target on Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a research report on Wednesday, April 1st. Scotiabank upped their price target on Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, Piper Sandler increased their price objective on Phillips 66 from $168.00 to $177.00 and gave the company a “neutral” rating in a report on Wednesday, April 8th. Two research 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 stock. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.28.

Insider Transactions at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 29,400 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the transaction, the chief financial officer owned 97,376 shares in the company, valued at $16,553,920. This trade represents a 23.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lisa Ann Davis sold 3,800 shares of the 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 transaction, the director owned 8,701 shares in the company, valued at $1,517,193.37. The trade was a 30.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 109,085 shares of company stock worth $18,825,546 over the last quarter. 0.40% of the stock is currently owned by corporate insiders.

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.