Pictet Asset Management Holding SA Acquires 26,794 Shares of Phillips 66 $PSX

Pictet Asset Management Holding SA grew its holdings in Phillips 66 (NYSE:PSX) by 12.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 241,073 shares of the oil and gas company’s stock after purchasing an additional 26,794 shares during the period. Pictet Asset Management Holding SA owned about 0.06% of Phillips 66 worth $43,932,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Yoder Wealth Management Inc. acquired a new stake in Phillips 66 in the 1st quarter valued at $208,000. Traveka Wealth LLC acquired a new position in shares of Phillips 66 during the 1st quarter worth about $280,000. Realta Investment Advisors acquired a new position in shares of Phillips 66 during the 1st quarter worth about $213,000. Union Bancaire Privee UBP SA bought a new position in shares of Phillips 66 in the 1st quarter valued at about $1,819,000. Finally, Cambient Family Office LLC grew its holdings in shares of Phillips 66 by 13.5% in the 1st quarter. Cambient Family Office LLC now owns 1,796 shares of the oil and gas company’s stock valued at $327,000 after acquiring an additional 214 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

In other news, Director Kevin Omar Meyers acquired 175 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were purchased at an average cost of $173.12 per share, with a total value of $30,296.00. Following the acquisition, the director directly owned 16,799 shares in the company, valued at $2,908,242.88. This represents a 1.05% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kevin J. Mitchell sold 600 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $171.56, for a total value of $102,936.00. Following the transaction, the chief financial officer owned 97,376 shares in the company, valued at $16,705,826.56. The trade was a 0.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on PSX. The Goldman Sachs Group upped their target price on Phillips 66 from $192.00 to $207.00 and gave the stock a “neutral” rating in a report on Tuesday, May 19th. Wolfe Research raised their price target on Phillips 66 from $187.00 to $193.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Wells Fargo & Company boosted their price target on Phillips 66 from $163.00 to $201.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. Weiss Ratings downgraded shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Finally, Scotiabank upped their price target on shares of Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.72.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $169.05 on Wednesday. Phillips 66 has a twelve month low of $118.07 and a twelve month high of $190.61. The company has a market cap of $67.78 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 0.25 and a beta of 0.68. The business’s 50 day moving average price is $173.41 and its two-hundred day moving average price is $160.58. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping the consensus estimate of ($0.54) by $1.03. The company had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.90) EPS. On average, analysts predict that Phillips 66 will post 18.22 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, May 18th. Phillips 66’s dividend payout ratio (DPR) is currently 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.