Oddo BHF Asset Management Sas Makes New Investment in Phillips 66 (NYSE:PSX)

Oddo BHF Asset Management Sas bought a new position in shares of Phillips 66 (NYSE:PSX) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 13,622 shares of the oil and gas company’s stock, valued at approximately $1,791,000.

Other large investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in Phillips 66 by 263.3% during the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after purchasing an additional 60,355 shares in the last quarter. Mizuho Securities USA LLC boosted its stake in shares of Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after buying an additional 2,467,316 shares during the last quarter. Nwam LLC bought a new stake in Phillips 66 during the third quarter worth about $498,000. Olympiad Research LP acquired a new position in Phillips 66 during the third quarter valued at approximately $607,000. Finally, Principal Financial Group Inc. grew its stake in Phillips 66 by 2.8% in the third quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company’s stock valued at $69,775,000 after purchasing an additional 14,209 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. UBS Group dropped their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Scotiabank cut their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Bank of America started coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective on the stock. Wells Fargo & Company dropped their target price on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a report on Monday, December 9th. Finally, Barclays reduced their price target on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.23.

Phillips 66 Price Performance

Phillips 66 stock opened at $122.72 on Friday. Phillips 66 has a 12 month low of $119.77 and a 12 month high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average is $129.86 and its 200-day moving average is $133.91. The company has a market capitalization of $50.68 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 4.14 and a beta of 1.35.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same quarter in the prior year, the business posted $4.63 EPS. The business’s revenue was down 10.3% compared to the same quarter last year. Equities research analysts expect that Phillips 66 will post 7.56 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were issued a $1.15 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.75%. Phillips 66’s dividend payout ratio is presently 59.05%.

Phillips 66 Company 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.