Raiffeisen Bank International AG Acquires 3,269 Shares of Phillips 66 $PSX

Raiffeisen Bank International AG increased its holdings in Phillips 66 (NYSE:PSX) by 74.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,641 shares of the oil and gas company’s stock after buying an additional 3,269 shares during the period. Raiffeisen Bank International AG’s holdings in Phillips 66 were worth $1,051,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of PSX. Vanguard Group Inc. boosted its holdings in shares of Phillips 66 by 11.6% in the third quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company’s stock worth $7,035,574,000 after acquiring an additional 5,356,558 shares during the period. Elliott Investment Management L.P. lifted its holdings in Phillips 66 by 22.4% during the 2nd quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock worth $2,296,644,000 after purchasing an additional 3,526,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Phillips 66 by 17.4% during the 2nd quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock worth $1,226,815,000 after purchasing an additional 1,532,967 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Phillips 66 by 6.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,394,750 shares of the oil and gas company’s stock worth $1,120,794,000 after purchasing an additional 537,245 shares during the period. Finally, Norges Bank purchased a new position in Phillips 66 during the 2nd quarter valued at about $523,755,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PSX shares. Mizuho upped their price target on Phillips 66 from $150.00 to $152.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. Citigroup boosted their price objective on shares of Phillips 66 from $146.00 to $159.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Zacks Research cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Piper Sandler raised their price target on shares of Phillips 66 from $153.00 to $156.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Finally, Wells Fargo & Company boosted their price target on shares of Phillips 66 from $162.00 to $163.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Ten equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $160.11.

Phillips 66 Trading Up 0.2%

Shares of PSX opened at $155.72 on Monday. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $163.79. The company has a market capitalization of $62.74 billion, a P/E ratio of 14.39, a P/E/G ratio of 0.55 and a beta of 0.90. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87. The firm’s 50 day simple moving average is $141.98 and its 200 day simple moving average is $136.19.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. The firm had revenue of $32.16 billion for the quarter, compared to analyst estimates of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.28%. During the same quarter in the prior year, the firm earned ($0.15) EPS. Sell-side analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be paid a $1.27 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, February 23rd. Phillips 66’s payout ratio is currently 44.36%.

Insider Activity at Phillips 66

In other news, EVP Brian Mandell sold 25,500 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the transaction, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,959,593.52. This represents a 30.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Don Baldridge sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total value of $1,200,000.00. Following the transaction, the executive vice president directly owned 38,488 shares in the company, valued at approximately $6,158,080. This represents a 16.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 41,788 shares of company stock valued at $6,067,250 over the last 90 days. 0.22% of the stock is owned by insiders.

Phillips 66 Company 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.