Unigestion Holding SA Boosts Stock Holdings in Phillips 66 (NYSE:PSX)

Unigestion Holding SA grew its position in Phillips 66 (NYSE:PSX) by 729.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 34,231 shares of the oil and gas company’s stock after purchasing an additional 30,105 shares during the period. Unigestion Holding SA’s holdings in Phillips 66 were worth $4,500,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Arete Wealth Advisors LLC bought a new position in shares of Phillips 66 during the 3rd quarter worth approximately $359,000. Teachers Retirement System of The State of Kentucky increased its position in shares of Phillips 66 by 35.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 351,186 shares of the oil and gas company’s stock valued at $46,163,000 after acquiring an additional 91,918 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in Phillips 66 by 41.0% during the third quarter. Sunbelt Securities Inc. now owns 4,027 shares of the oil and gas company’s stock worth $529,000 after acquiring an additional 1,171 shares during the period. Neo Ivy Capital Management purchased a new position in Phillips 66 in the third quarter worth $638,000. Finally, Resources Management Corp CT ADV grew its stake in Phillips 66 by 5.7% in the 3rd quarter. Resources Management Corp CT ADV now owns 11,158 shares of the oil and gas company’s stock valued at $1,467,000 after purchasing an additional 602 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on PSX. JPMorgan Chase & Co. lowered their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Barclays lowered their price objective on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. TD Cowen reduced their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Scotiabank lowered their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Piper Sandler set a $144.00 price objective on Phillips 66 in a research note on Thursday, October 17th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $149.23.

Phillips 66 Stock Performance

Shares of PSX opened at $125.59 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock has a market capitalization of $51.87 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 4.24 and a beta of 1.35. Phillips 66 has a 52-week low of $119.77 and a 52-week high of $174.08. The stock’s 50-day simple moving average is $130.81 and its 200 day simple moving average is $134.30.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. Phillips 66’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the business earned $4.63 earnings per share. Research analysts forecast that Phillips 66 will post 7.59 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued a $1.15 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.66%. Phillips 66’s payout ratio is currently 59.05%.

About Phillips 66

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.