Hsbc Holdings PLC Has $195.97 Million Holdings in Phillips 66 (NYSE:PSX)

Hsbc Holdings PLC boosted its stake in shares of Phillips 66 (NYSE:PSX) by 14.7% during the second quarter, Holdings Channel.com reports. The fund owned 1,388,407 shares of the oil and gas company’s stock after acquiring an additional 177,684 shares during the period. Hsbc Holdings PLC’s holdings in Phillips 66 were worth $195,973,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC acquired a new position in Phillips 66 in the second quarter valued at about $17,670,000. M&G Plc bought a new stake in shares of Phillips 66 during the 2nd quarter worth approximately $3,596,000. Duality Advisers LP acquired a new stake in shares of Phillips 66 during the 1st quarter worth approximately $3,596,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Phillips 66 by 42.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock valued at $21,844,000 after acquiring an additional 39,775 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its position in Phillips 66 by 14.3% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company’s stock valued at $38,530,000 after purchasing an additional 36,116 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

Shares of PSX stock opened at $128.30 on Wednesday. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08. The firm has a market capitalization of $53.70 billion, a PE ratio of 9.87, a price-to-earnings-growth ratio of 4.53 and a beta of 1.33. The firm has a fifty day simple moving average of $135.53 and a two-hundred day simple moving average of $143.96. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.87 EPS. Analysts forecast that Phillips 66 will post 9.25 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date was Tuesday, August 20th. Phillips 66’s dividend payout ratio is 35.38%.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Argus reiterated a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a research note on Thursday, May 30th. Scotiabank dropped their target price on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Raymond James lifted their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their target price on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Finally, Mizuho cut their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $155.29.

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.