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

Hsbc Holdings PLC increased its stake in Phillips 66 (NYSE:PSX) by 14.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,388,407 shares of the oil and gas company’s stock after purchasing an additional 177,684 shares during the period. Hsbc Holdings PLC owned 0.33% of Phillips 66 worth $195,973,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PSX. Madison Park Capital Advisors LLC grew its position in shares of Phillips 66 by 3.0% during the 1st quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock worth $383,000 after buying an additional 68 shares during the period. Warwick Investment Management Inc. boosted its position in shares of Phillips 66 by 3.1% in the 4th quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock worth $319,000 after purchasing an additional 73 shares during the last quarter. MV Capital Management Inc. grew its stake in shares of Phillips 66 by 9.6% during the first quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock worth $137,000 after purchasing an additional 73 shares during the period. HCR Wealth Advisors increased its holdings in Phillips 66 by 2.9% in the fourth quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock valued at $351,000 after purchasing an additional 74 shares during the last quarter. Finally, Mitchell & Pahl Private Wealth LLC lifted its stake in Phillips 66 by 0.4% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock valued at $2,519,000 after buying an additional 74 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Argus restated a “buy” rating and set a $167.00 target price on shares of Phillips 66 in a research report on Thursday, May 30th. Piper Sandler lowered their target price on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Mizuho reduced their price target on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday. Raymond James upped their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. reduced their target price on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $155.29.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $128.30 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The stock has a 50 day moving average price of $135.53 and a 200 day moving average price of $143.96. The stock 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. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.33. The business had revenue of $38.91 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business earned $3.87 earnings per share. Analysts predict that Phillips 66 will post 9.25 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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

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.