Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its stake in Phillips 66 (NYSE:PSX) by 334.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 163,580 shares of the oil and gas company’s stock after buying an additional 125,896 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Phillips 66 were worth $12,808,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. increased its stake in Phillips 66 by 3.3% in the fourth quarter. Franklin Resources Inc. now owns 156,642 shares of the oil and gas company’s stock valued at $13,536,000 after buying an additional 4,953 shares during the last quarter. Pacific Global Investment Management CO increased its stake in Phillips 66 by 10.9% in the fourth quarter. Pacific Global Investment Management CO now owns 32,538 shares of the oil and gas company’s stock valued at $2,812,000 after buying an additional 3,208 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in Phillips 66 during the fourth quarter valued at about $18,243,000. STA Wealth Management LLC increased its stake in Phillips 66 by 1.1% in the fourth quarter. STA Wealth Management LLC now owns 4,741 shares of the oil and gas company’s stock valued at $410,000 after buying an additional 50 shares during the last quarter. Finally, GLG LLC increased its stake in Phillips 66 by 6.8% in the fourth quarter. GLG LLC now owns 27,107 shares of the oil and gas company’s stock valued at $2,342,000 after buying an additional 1,723 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.
Phillips 66 (NYSE:PSX) opened at 82.60 on Monday. The stock has a 50 day moving average price of $78.80 and a 200-day moving average price of $80.27. The firm has a market cap of $42.63 billion, a P/E ratio of 25.63 and a beta of 1.23. Phillips 66 has a one year low of $73.82 and a one year high of $88.87.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 28th. The oil and gas company reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.53. The company had revenue of $23.71 billion for the quarter, compared to analyst estimates of $22.30 billion. Phillips 66 had a return on equity of 5.98% and a net margin of 1.86%. During the same quarter last year, the firm posted $0.67 earnings per share. Analysts predict that Phillips 66 will post $4.31 EPS for the current fiscal year.
Several analysts have issued reports on PSX shares. Scotiabank restated a “hold” rating and set a $86.00 price objective on shares of Phillips 66 in a report on Monday, March 27th. Jefferies Group LLC set a $74.00 price objective on Phillips 66 and gave the stock a “hold” rating in a report on Wednesday, April 19th. Royal Bank of Canada restated a “hold” rating and set a $87.00 price objective on shares of Phillips 66 in a report on Thursday, April 20th. Citigroup Inc. restated a “neutral” rating and set a $83.00 price objective (down previously from $84.00) on shares of Phillips 66 in a report on Saturday, April 22nd. Finally, TheStreet upgraded Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, April 28th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $84.86.
About Phillips 66
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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