Axa S.A. Acquires 24,983 Shares of Phillips 66 (NYSE:PSX)

Axa S.A. grew its stake in Phillips 66 (NYSE:PSX) by 47.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,146 shares of the oil and gas company’s stock after purchasing an additional 24,983 shares during the period. Axa S.A.’s holdings in Phillips 66 were worth $8,903,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of PSX. Bogart Wealth LLC lifted its position in shares of Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 120 shares during the last quarter. J.Safra Asset Management Corp purchased a new stake in Phillips 66 during the fourth quarter worth $25,000. Stephens Consulting LLC boosted its position in Phillips 66 by 83.5% during the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 111 shares in the last quarter. Graney & King LLC bought a new stake in shares of Phillips 66 in the 4th quarter valued at about $28,000. Finally, Human Investing LLC purchased a new position in Phillips 66 in the fourth quarter worth $30,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PSX. Raymond James decreased their price target on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. UBS Group cut their target price on shares of Phillips 66 from $144.00 to $140.00 and set a “buy” rating for the company in a report on Monday, April 28th. The Goldman Sachs Group downgraded Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price target on the stock. in a research report on Thursday, March 27th. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, Scotiabank decreased their target price on shares of Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $136.36.

Phillips 66 Trading Down 0.3 %

Shares of PSX stock opened at $106.87 on Tuesday. The firm has a market cap of $43.54 billion, a P/E ratio of 21.63, a PEG ratio of 4.84 and a beta of 1.01. The firm’s 50-day simple moving average is $113.08 and its 200-day simple moving average is $119.87. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The company had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. During the same period last year, the firm posted $1.90 earnings per share. As a group, equities analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a $1.20 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date is Monday, May 19th. Phillips 66’s dividend payout ratio (DPR) is presently 109.34%.

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.