UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 39,747 Shares of Phillips 66 $PSX

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Phillips 66 (NYSE:PSX) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,361,396 shares of the oil and gas company’s stock after purchasing an additional 39,747 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Phillips 66 were worth $399,194,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. NFSG Corp boosted its holdings in shares of Phillips 66 by 105.6% during the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after buying an additional 75 shares during the period. Axiom Investment Management LLC acquired a new position in shares of Phillips 66 in the first quarter valued at about $27,000. SWAN Capital LLC increased its holdings in shares of Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 190 shares during the period. Compass Financial Management LLC bought a new position in Phillips 66 during the 2nd quarter worth $28,000. Finally, Kelleher Financial Advisors acquired a new position in Phillips 66 in the second quarter valued at about $29,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Up 0.2%

Shares of NYSE:PSX opened at $244.50 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32. Phillips 66 has a 52-week low of $126.74 and a 52-week high of $246.95. The business’s 50 day simple moving average is $206.11 and its two-hundred day simple moving average is $182.76. The firm has a market cap of $97.56 billion, a P/E ratio of 13.93, a PEG ratio of 0.18 and a beta of 0.68.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, beating the consensus estimate of $7.50 by $1.91. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.The firm had revenue of $52.04 billion during the quarter, compared to the consensus estimate of $43.60 billion. During the same quarter in the previous year, the company posted $2.38 earnings per share. As a group, research analysts forecast that Phillips 66 will post 23.86 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s payout ratio is 28.95%.

Phillips 66 declared that its board has initiated a share repurchase plan on Friday, July 31st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the oil and gas company to buy up to 11.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Argus upped their price objective on Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Jefferies Financial Group lifted their price target on shares of Phillips 66 from $191.00 to $207.00 and gave the stock a “hold” rating in a report on Thursday, July 9th. Citigroup reiterated a “neutral” rating on shares of Phillips 66 in a report on Thursday, August 6th. Weiss Ratings upgraded shares of Phillips 66 from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Finally, Wells Fargo & Company upped their price target on shares of Phillips 66 from $201.00 to $239.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.56.

Insider Buying and Selling at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 3,523 shares of Phillips 66 stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total transaction of $743,529.15. Following the completion of the transaction, the executive vice president directly owned 27,537 shares in the company, valued at $5,811,683.85. This trade represents a 11.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin J. Mitchell sold 11,021 shares of the business’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $18,504,361.28. The trade was a 10.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 100,507 shares of company stock worth $21,770,810. Company insiders own 0.40% of the company’s stock.

Phillips 66 Company 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.