DekaBank Deutsche Girozentrale Buys 2,110 Shares of Phillips 66 (NYSE:PSX)

DekaBank Deutsche Girozentrale grew its stake in Phillips 66 (NYSE:PSX) by 1.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 203,702 shares of the oil and gas company’s stock after acquiring an additional 2,110 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Phillips 66 were worth $32,345,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PSX. Vanguard Group Inc. increased its stake in Phillips 66 by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after purchasing an additional 1,578,669 shares in the last quarter. Wellington Management Group LLP boosted its position in Phillips 66 by 20.3% during the 4th quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock worth $1,451,643,000 after acquiring an additional 1,842,226 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Phillips 66 by 38.0% during the 1st quarter. Bank of New York Mellon Corp now owns 8,019,795 shares of the oil and gas company’s stock worth $1,309,954,000 after acquiring an additional 2,209,043 shares during the last quarter. Boston Partners boosted its position in Phillips 66 by 41.4% during the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after acquiring an additional 1,595,722 shares during the last quarter. Finally, Norges Bank acquired a new position in Phillips 66 during the 4th quarter worth approximately $559,435,000. 76.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PSX. Piper Sandler cut their price objective on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a report on Friday, June 14th. StockNews.com downgraded Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Argus reaffirmed a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. Mizuho lowered their price objective on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Finally, Barclays lowered their price objective on Phillips 66 from $142.00 to $136.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and an average price target of $157.23.

Insider Buying and Selling

In related news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the transaction, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at $7,051,617. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.22% of the stock is owned by insiders.

Phillips 66 Trading Down 5.1 %

Shares of PSX stock traded down $7.19 during mid-day trading on Friday, reaching $133.76. 4,078,997 shares of the stock traded hands, compared to its average volume of 2,094,396. The stock’s fifty day simple moving average is $138.97 and its two-hundred day simple moving average is $145.84. Phillips 66 has a 1-year low of $107.41 and a 1-year high of $174.08. The company has a market cap of $55.99 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 2.50 and a beta of 1.34. The company has a quick ratio of 0.82, a current ratio of 1.14 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. During the same period last year, the firm posted $3.87 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, research analysts anticipate that Phillips 66 will post 9.4 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend is Tuesday, August 20th. Phillips 66’s dividend payout ratio is currently 35.38%.

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.