Phillips 66 (NYSE:PSX) Shares Bought by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in shares of Phillips 66 (NYSE:PSX) by 311.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 31,877 shares of the oil and gas company’s stock after purchasing an additional 24,121 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Phillips 66 were worth $5,207,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Phillips 66 in the fourth quarter worth $559,435,000. Boston Partners boosted its position in shares of Phillips 66 by 962.0% in the fourth quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock worth $513,327,000 after buying an additional 3,494,878 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Phillips 66 in the fourth quarter worth $254,336,000. Wellington Management Group LLP boosted its position in shares of Phillips 66 by 20.3% in the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock worth $1,451,643,000 after buying an additional 1,842,226 shares during the period. Finally, Public Employees Retirement Association of Colorado boosted its position in shares of Phillips 66 by 4,556.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 953,020 shares of the oil and gas company’s stock worth $126,885,000 after buying an additional 932,552 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Phillips 66

In related news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the transaction, the executive vice president now directly owns 48,365 shares in the company, valued at $7,051,617. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on PSX. Argus reissued a “buy” rating and set a $167.00 price objective on shares of Phillips 66 in a research report on Thursday, May 30th. Bank of America lifted their price objective on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. TD Cowen reduced their price objective on Phillips 66 from $164.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, June 21st. Scotiabank lifted their price objective on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Finally, StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $157.07.

Phillips 66 Stock Performance

Shares of Phillips 66 stock traded down $0.46 during trading on Tuesday, reaching $140.47. The company’s stock had a trading volume of 2,604,055 shares, compared to its average volume of 2,782,405. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The business’s fifty day moving average price is $142.59 and its 200-day moving average price is $144.90. The firm has a market cap of $59.55 billion, a price-to-earnings ratio of 10.79, a price-to-earnings-growth ratio of 2.12 and a beta of 1.34. Phillips 66 has a one year low of $94.51 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The business had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. During the same quarter in the previous year, the firm posted $4.21 earnings per share. As a group, equities research analysts predict that Phillips 66 will post 11.08 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.27%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, May 17th. Phillips 66’s payout ratio is currently 35.38%.

Phillips 66 Profile

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.