Fideuram Intesa Sanpaolo Private Banking S.P.A. Invests $1.08 Million in Phillips 66 $PSX

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Phillips 66 (NYSE:PSX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,928 shares of the oil and gas company’s stock, valued at approximately $1,080,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in Phillips 66 by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock valued at $6,701,052,000 after buying an additional 205,480 shares in the last quarter. State Street Corp raised its position in shares of Phillips 66 by 0.8% during the 4th quarter. State Street Corp now owns 23,589,550 shares of the oil and gas company’s stock worth $3,043,996,000 after buying an additional 175,616 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Phillips 66 by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock worth $1,338,596,000 after buying an additional 45,340 shares in the last quarter. Norges Bank acquired a new stake in shares of Phillips 66 in the 4th quarter worth approximately $640,206,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Phillips 66 by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,944,561 shares of the oil and gas company’s stock worth $509,006,000 after acquiring an additional 89,621 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PSX has been the subject of several recent analyst reports. Wolfe Research increased their price objective on shares of Phillips 66 from $187.00 to $193.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Guggenheim upgraded Phillips 66 to an “outperform” rating in a research report on Wednesday, May 27th. Raymond James Financial increased their price target on Phillips 66 from $215.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, June 10th. Jefferies Financial Group lifted their price target on Phillips 66 from $173.00 to $191.00 and gave the company a “hold” rating in a research report on Tuesday, May 26th. Finally, Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $192.72.

Insider Buying and Selling at Phillips 66

In other 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 completion of the sale, the chief financial officer owned 97,376 shares in the company, valued at approximately $16,553,920. This represents a 23.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kevin Omar Meyers acquired 175 shares of Phillips 66 stock in a transaction dated Wednesday, May 6th. The shares were bought at an average cost of $173.12 per share, with a total value of $30,296.00. Following the completion of the purchase, the director owned 16,799 shares in the company, valued at approximately $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.40% of the stock is currently owned by corporate insiders.

Phillips 66 Stock Performance

NYSE:PSX opened at $176.40 on Friday. The company has a 50-day moving average of $174.43 and a 200-day moving average of $161.15. The firm has a market cap of $70.72 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 0.24 and a beta of 0.69. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. Phillips 66 has a twelve month low of $118.07 and a twelve month high of $190.61.

Phillips 66 (NYSE:PSX) last released 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 business had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. During the same period in the previous year, the firm earned ($0.90) EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts forecast that Phillips 66 will post 19.27 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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

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.