AG2R LA Mondiale Gestion D Actifs Makes New $5.99 Million Investment in Phillips 66 $PSX

AG2R LA Mondiale Gestion D Actifs bought a new stake in Phillips 66 (NYSE:PSX) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 52,804 shares of the oil and gas company’s stock, valued at approximately $5,992,000.

A number of other hedge funds have also made changes to their positions in PSX. Brighton Jones LLC raised its stake in shares of Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after acquiring an additional 7,214 shares during the period. Janus Henderson Group PLC raised its stake in shares of Phillips 66 by 20.8% in the 4th quarter. Janus Henderson Group PLC now owns 275,569 shares of the oil and gas company’s stock valued at $31,392,000 after acquiring an additional 47,404 shares during the period. Lighthouse Investment Partners LLC purchased a new position in shares of Phillips 66 in the 4th quarter valued at $476,000. OMERS ADMINISTRATION Corp raised its stake in shares of Phillips 66 by 19.6% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 18,282 shares of the oil and gas company’s stock valued at $2,083,000 after acquiring an additional 2,993 shares during the period. Finally, NorthRock Partners LLC purchased a new stake in Phillips 66 during the 4th quarter worth $633,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

PSX has been the topic of several analyst reports. Piper Sandler lifted their price target on shares of Phillips 66 from $144.00 to $154.00 and gave the stock a “neutral” rating in a research note on Thursday. Citigroup downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $126.00 to $130.00 in a research note on Wednesday, July 16th. Wall Street Zen raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Bank of America downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $144.00 to $147.00 in a research note on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. set a $115.00 price target on shares of Phillips 66 in a research note on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $136.40.

Insiders Place Their Bets

In related news, EVP Brian Mandell sold 9,800 shares of Phillips 66 stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total value of $1,225,000.00. Following the sale, the executive vice president directly owned 56,838 shares in the company, valued at $7,104,750. This trade represents a 14.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total transaction of $571,090.00. Following the completion of the sale, the executive vice president owned 43,373 shares in the company, valued at approximately $5,638,490. This represents a 9.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders acquired 9,850 shares of company stock worth $1,188,910 and sold 18,586 shares worth $2,389,145. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Shares of PSX stock opened at $132.49 on Friday. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $140.60. The firm has a fifty day moving average of $126.87 and a two-hundred day moving average of $119.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The firm has a market cap of $53.54 billion, a P/E ratio of 31.85, a P/E/G ratio of 2.05 and a beta of 1.15.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, beating the consensus estimate of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The business had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same period in the previous year, the business posted $2.31 EPS. As a group, research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were issued a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.6%. Phillips 66’s payout ratio is 115.38%.

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.