UniSuper Management Pty Ltd Raises Holdings in Phillips 66 $PSX

UniSuper Management Pty Ltd boosted its position in Phillips 66 (NYSE:PSX) by 13.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,102 shares of the oil and gas company’s stock after acquiring an additional 4,464 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Phillips 66 were worth $5,183,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PSX. Vanguard Group Inc. lifted its stake in shares of Phillips 66 by 14.8% in the 2nd quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock valued at $5,531,702,000 after purchasing an additional 5,978,841 shares in the last quarter. Elliott Investment Management L.P. increased its position 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 raised its holdings in Phillips 66 by 17.4% in the second quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock valued at $1,226,815,000 after buying an additional 1,532,967 shares during the period. Bank of New York Mellon Corp raised its holdings in Phillips 66 by 6.1% in the second quarter. Bank of New York Mellon Corp now owns 9,394,750 shares of the oil and gas company’s stock valued at $1,120,794,000 after buying an additional 537,245 shares during the period. Finally, Norges Bank acquired a new position in Phillips 66 during the second quarter valued at approximately $523,755,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Brian Mandell sold 25,500 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $140.04, for a total value of $3,571,020.00. Following the sale, the executive vice president directly owned 56,838 shares of the company’s stock, valued at $7,959,593.52. This represents a 30.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the transaction, the chief financial officer owned 89,771 shares in the company, valued at $12,388,398. This trade represents a 25.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 86,094 shares of company stock worth $11,955,366. Insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

PSX has been the topic of a number of research reports. Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Phillips 66 in a report on Thursday. Jefferies Financial Group raised their price objective on Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Raymond James Financial upped their target price on Phillips 66 from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Citigroup raised their target price on Phillips 66 from $137.00 to $146.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $153.53.

Phillips 66 Trading Down 0.3%

NYSE:PSX opened at $141.51 on Monday. The stock has a market cap of $57.02 billion, a price-to-earnings ratio of 38.66, a price-to-earnings-growth ratio of 0.40 and a beta of 0.90. Phillips 66 has a one year low of $91.01 and a one year high of $146.88. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.23. The business’s 50-day simple moving average is $136.13 and its 200 day simple moving average is $132.45.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.38. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.The company had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. During the same period in the previous year, the business earned $2.04 EPS. As a group, sell-side analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

About Phillips 66

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.