Phillips 66 (NYSE:PSX) Stock Position Lowered by Swiss National Bank

Swiss National Bank trimmed its position in shares of Phillips 66 (NYSE:PSX) by 5.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,392,350 shares of the oil and gas company’s stock after selling 83,700 shares during the period. Swiss National Bank owned 0.32% of Phillips 66 worth $185,377,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its holdings in shares of Phillips 66 by 134.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 151 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in shares of Phillips 66 during the 4th quarter worth about $36,000. West Branch Capital LLC lifted its holdings in shares of Phillips 66 by 49.5% during the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 91 shares during the last quarter. Bell Investment Advisors Inc grew its stake in shares of Phillips 66 by 82.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 138 shares in the last quarter. Finally, Headinvest LLC bought a new position in Phillips 66 during the third quarter valued at approximately $51,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of recent research reports. Mizuho cut their price target on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Barclays decreased their price target on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a research note on Tuesday. Wells Fargo & Company raised their price objective on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Piper Sandler upped their target price on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Finally, Bank of America lifted their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $157.43.

Phillips 66 Stock Performance

Shares of PSX traded down $0.26 on Friday, reaching $143.61. 1,804,654 shares of the stock traded hands, compared to its average volume of 2,957,052. The stock’s 50-day moving average price is $155.62 and its 200-day moving average price is $137.81. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 1.02. The firm has a market cap of $60.88 billion, a price-to-earnings ratio of 11.05, a P/E/G ratio of 1.77 and a beta of 1.41. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The business had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. During the same period last year, the firm earned $4.21 EPS. Equities analysts forecast that Phillips 66 will post 13.17 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.20%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio is 32.31%.

Insiders Place Their Bets

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the sale, the vice president now owns 6,583 shares in the company, valued at approximately $1,035,242.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the sale, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the transaction, the vice president now owns 6,583 shares in the company, valued at $1,035,242.58. The disclosure for this sale can be found here. Insiders sold 35,056 shares of company stock worth $5,272,681 over the last three months. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 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.