Swiss National Bank Sells 83,700 Shares of Phillips 66 (NYSE:PSX)

Swiss National Bank reduced its stake in Phillips 66 (NYSE:PSX) by 5.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,392,350 shares of the oil and gas company’s stock after selling 83,700 shares during the period. Swiss National Bank’s holdings in Phillips 66 were worth $185,377,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale increased its stake in Phillips 66 by 12.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after acquiring an additional 22,278 shares during the last quarter. Eldred Rock Partners LLC purchased a new stake in Phillips 66 during the fourth quarter valued at $10,402,000. Choate Investment Advisors bought a new position in Phillips 66 during the third quarter valued at $247,000. First Dallas Securities Inc. purchased a new position in shares of Phillips 66 in the 3rd quarter worth $753,000. Finally, TIAA Trust National Association increased its holdings in shares of Phillips 66 by 32.9% in the 4th quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after buying an additional 3,670 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PSX. Barclays lowered their price target on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a report on Tuesday. Raymond James increased their price target on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Scotiabank lifted their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. The Goldman Sachs Group increased their target price on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, StockNews.com cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Saturday, April 27th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $157.43.

Phillips 66 Stock Down 0.2 %

Shares of PSX traded down $0.26 during mid-day trading on Friday, hitting $143.61. The company’s stock had a trading volume of 1,804,654 shares, compared to its average volume of 2,957,052. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 0.58. The company’s 50-day moving average is $155.62 and its 200-day moving average is $137.81. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08. The firm has a market capitalization of $60.88 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 1.77 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The company had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. During the same quarter in the prior year, the company earned $4.21 EPS. On average, equities research analysts forecast that Phillips 66 will post 13.17 EPS for the current fiscal year.

Phillips 66 Increases Dividend

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

Insider Buying and Selling at Phillips 66

In other news, Director Robert W. Pease acquired 682 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were purchased at an average price of $146.58 per share, with a total value of $99,967.56. Following the transaction, the director now directly owns 1,900 shares in the company, valued at $278,502. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction dated Monday, February 12th. The stock was 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 directly owns 24,941 shares in the company, valued at $3,648,120.07. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert W. Pease purchased 682 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were acquired at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the purchase, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is currently owned by 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.