AIA Group Ltd Purchases 12,989 Shares of Phillips 66 $PSX

AIA Group Ltd raised its position in shares of Phillips 66 (NYSE:PSX) by 558.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,314 shares of the oil and gas company’s stock after buying an additional 12,989 shares during the period. AIA Group Ltd’s holdings in Phillips 66 were worth $2,790,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Clifford Group LLC raised its position in Phillips 66 by 2.0% during the 4th quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock valued at $428,000 after purchasing an additional 64 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Phillips 66 by 0.8% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 8,255 shares of the oil and gas company’s stock worth $1,504,000 after buying an additional 65 shares during the last quarter. CYBER HORNET ETFs LLC raised its holdings in shares of Phillips 66 by 5.7% during the fourth quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company’s stock valued at $158,000 after acquiring an additional 66 shares in the last quarter. GHP Investment Advisors Inc. raised its holdings in shares of Phillips 66 by 2.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock valued at $414,000 after acquiring an additional 72 shares in the last quarter. Finally, Johnson Financial Group Inc. lifted its stake in Phillips 66 by 11.9% in the fourth quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company’s stock worth $88,000 after acquiring an additional 72 shares during the period. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PSX shares. Guggenheim raised shares of Phillips 66 to an “outperform” rating in a research report on Wednesday, May 27th. Wells Fargo & Company raised their target price on shares of Phillips 66 from $163.00 to $201.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. Argus lifted their target price on shares of Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. The Goldman Sachs Group boosted their price target on shares of Phillips 66 from $192.00 to $207.00 and gave the company a “neutral” rating in a research report on Tuesday, May 19th. Finally, JPMorgan Chase & Co. increased their price target on shares of Phillips 66 from $188.00 to $202.00 in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $196.06.

Phillips 66 Stock Performance

Shares of PSX opened at $206.96 on Monday. The company has a market cap of $82.97 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 0.27 and a beta of 0.69. The business’s fifty day simple moving average is $179.03 and its two-hundred day simple moving average is $165.75. Phillips 66 has a 12 month low of $118.07 and a 12 month high of $207.14. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. During the same quarter in the previous year, the business earned ($0.90) earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. Research analysts anticipate that Phillips 66 will post 19.84 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a dividend of $1.27 per share. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 annualized dividend and a yield of 2.5%. Phillips 66’s dividend payout ratio is currently 50.05%.

Insider Activity

In related news, Director Kevin Omar Meyers purchased 175 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were purchased at an average price 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. The trade was a 1.05% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin J. Mitchell sold 29,400 shares of Phillips 66 stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the completion of the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at $16,553,920. This represents a 23.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 41,021 shares of company stock worth $7,195,257 in the last 90 days. Company insiders own 0.40% of the company’s stock.

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.