Machina Capital S.A.S. Makes New Investment in Phillips 66 $PSX

Machina Capital S.A.S. purchased a new stake in Phillips 66 (NYSE:PSX) during the second quarter, Holdings Channel reports. The firm purchased 20,234 shares of the oil and gas company’s stock, valued at approximately $2,414,000.

A number of other institutional investors have also modified their holdings of PSX. Elliott Investment Management L.P. boosted its stake in Phillips 66 by 1,929.0% in the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after purchasing an additional 14,950,000 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Phillips 66 by 11.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock worth $828,442,000 after purchasing an additional 682,459 shares in the last quarter. Invesco Ltd. boosted its stake in Phillips 66 by 15.9% in the 1st quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock worth $588,489,000 after purchasing an additional 653,248 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Phillips 66 by 11.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,781,064 shares of the oil and gas company’s stock worth $466,886,000 after buying an additional 377,132 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Phillips 66 by 3.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,103,316 shares of the oil and gas company’s stock worth $383,197,000 after buying an additional 100,321 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $136.23 on Monday. The firm has a market cap of $54.89 billion, a PE ratio of 37.22, a PEG ratio of 1.81 and a beta of 1.11. The firm has a fifty day moving average of $132.67 and a 200 day moving average of $123.64. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. Phillips 66 has a one year low of $91.01 and a one year high of $142.35.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.14 by $0.38. The company had revenue of $33.69 billion during the quarter, compared to analyst estimates of $32.29 billion. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. During the same quarter in the previous year, the firm earned $2.04 EPS. As a group, research analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PSX shares. Morgan Stanley raised their price target on shares of Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, October 3rd. Argus raised shares of Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. Piper Sandler lifted their target price on shares of Phillips 66 from $155.00 to $159.00 and gave the company a “neutral” rating in a report on Thursday. Mizuho lifted their target price on shares of Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Monday, September 15th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $133.00 target price on shares of Phillips 66 in a report on Friday, July 11th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $142.94.

Insider Buying and Selling at Phillips 66

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

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.