Mediolanum International Funds Ltd Acquires 141,504 Shares of Phillips 66 $PSX

Mediolanum International Funds Ltd grew its holdings in shares of Phillips 66 (NYSE:PSX) by 879.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 157,596 shares of the oil and gas company’s stock after acquiring an additional 141,504 shares during the period. Mediolanum International Funds Ltd’s holdings in Phillips 66 were worth $21,680,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Evolution Wealth Management Inc. bought a new position in Phillips 66 during the 2nd quarter worth $25,000. Winnow Wealth LLC bought a new stake in shares of Phillips 66 in the 3rd quarter valued at about $36,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Phillips 66 in the second quarter valued at about $32,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Phillips 66 during the second quarter worth about $38,000. Finally, Country Trust Bank raised its position in shares of Phillips 66 by 191.8% during the third quarter. Country Trust Bank now owns 321 shares of the oil and gas company’s stock worth $44,000 after acquiring an additional 211 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.5%

PSX opened at $143.36 on Friday. The company has a fifty day moving average price of $136.83 and a two-hundred day moving average price of $132.83. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $147.96. The company has a market cap of $57.76 billion, a P/E ratio of 39.17, a price-to-earnings-growth ratio of 0.52 and a beta of 0.90. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68.

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

Insider Buying and Selling

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the completion of the sale, the chief financial officer owned 89,771 shares in the company, valued at $12,388,398. The trade was a 25.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the stock in a transaction on Friday, January 9th. The stock was sold at an average price of $145.00, for a total value of $637,130.00. Following the completion of the transaction, the executive vice president owned 30,193 shares in the company, valued at approximately $4,377,985. This represents a 12.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 86,094 shares of company stock valued at $11,955,366. 0.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on PSX. Jefferies Financial Group upped their target price on Phillips 66 from $137.00 to $149.00 and gave the company a “hold” rating in a report on Monday, January 26th. Zacks Research lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Mizuho increased their price objective on shares of Phillips 66 from $150.00 to $152.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th. TD Cowen lifted their target price on shares of Phillips 66 from $145.00 to $151.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Finally, BMO Capital Markets upped their price target on shares of Phillips 66 from $152.00 to $160.00 in a research report on Tuesday, November 11th. 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 stock has a consensus rating of “Hold” and an average price target of $154.47.

Phillips 66 Company 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.