Axa S.A. Has $7.94 Million Stock Holdings in Phillips 66 (NYSE:PSX)

Axa S.A. decreased its position in shares of Phillips 66 (NYSE:PSX) by 25.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,263 shares of the oil and gas company’s stock after selling 19,317 shares during the period. Axa S.A.’s holdings in Phillips 66 were worth $7,943,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Gryphon Financial Partners LLC increased its holdings in Phillips 66 by 11.4% in the fourth quarter. Gryphon Financial Partners LLC now owns 4,166 shares of the oil and gas company’s stock worth $546,000 after buying an additional 426 shares during the last quarter. TD Asset Management Inc grew its position in Phillips 66 by 1.6% in the fourth quarter. TD Asset Management Inc now owns 166,874 shares of the oil and gas company’s stock worth $22,218,000 after acquiring an additional 2,642 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in shares of Phillips 66 by 15.7% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 2,684 shares of the oil and gas company’s stock worth $357,000 after purchasing an additional 364 shares during the last quarter. Paulson Wealth Management Inc. bought a new position in shares of Phillips 66 during the 4th quarter valued at $215,000. Finally, Steward Partners Investment Solutions LLC bought a new stake in Phillips 66 in the fourth quarter worth $1,369,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.3 %

Shares of PSX opened at $131.05 on Friday. The stock’s 50-day moving average price is $134.30 and its 200 day moving average price is $143.07. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The firm has a market capitalization of $54.85 billion, a price-to-earnings ratio of 10.08, a P/E/G ratio of 5.22 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last issued its 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. The business had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. Phillips 66’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.87 earnings per share. As a group, research analysts predict that Phillips 66 will post 8.27 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 annualized dividend and a dividend yield of 3.51%. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Analyst Ratings Changes

A number of brokerages have weighed in on PSX. Barclays boosted their price target on Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Morgan Stanley reduced their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Wells Fargo & Company increased their price target on Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Mizuho reduced their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Finally, Piper Sandler lowered their target price on shares of Phillips 66 from $151.00 to $136.00 and set an “overweight” rating on the stock in a research note on Friday, September 20th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $154.21.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the transaction, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.22% of the stock is currently owned by insiders.

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.