Banque Cantonale Vaudoise Decreases Position in Phillips 66 $PSX

Banque Cantonale Vaudoise trimmed its position in shares of Phillips 66 (NYSE:PSX) by 45.8% during the fourth quarter, Holdings Channel reports. The firm owned 10,531 shares of the oil and gas company’s stock after selling 8,889 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Phillips 66 were worth $1,359,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PSX. Brighton Jones LLC lifted its stake in Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after buying an additional 7,214 shares in the last quarter. Woodline Partners LP lifted its stake in Phillips 66 by 40.7% in the 1st quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock valued at $4,308,000 after buying an additional 10,089 shares in the last quarter. Sei Investments Co. lifted its stake in Phillips 66 by 28.3% in the 2nd quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company’s stock valued at $18,788,000 after buying an additional 34,698 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Phillips 66 by 9.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company’s stock valued at $41,359,000 after buying an additional 28,988 shares in the last quarter. Finally, Glenview Trust co lifted its stake in Phillips 66 by 2.6% in the 2nd quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company’s stock valued at $1,068,000 after buying an additional 229 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of recent research reports. TD Cowen upped their target price on Phillips 66 from $155.00 to $213.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Zacks Research raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Barclays upped their target price on Phillips 66 from $158.00 to $177.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Wolfe Research upped their target price on Phillips 66 from $187.00 to $193.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Finally, JPMorgan Chase & Co. upped their target price on Phillips 66 from $188.00 to $202.00 in a research note on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have given a Hold 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 $187.11.

Phillips 66 Trading Down 3.0%

Shares of Phillips 66 stock opened at $173.90 on Friday. Phillips 66 has a fifty-two week low of $109.75 and a fifty-two week high of $190.61. The firm has a market cap of $69.72 billion, a PE ratio of 17.13, a P/E/G ratio of 0.26 and a beta of 0.70. The business’s fifty day moving average is $171.95 and its two-hundred day moving average is $153.13. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same quarter in the prior year, the company posted ($0.90) EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts anticipate that Phillips 66 will post 17.64 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, May 18th. Phillips 66’s dividend payout ratio is currently 50.05%.

Insiders Place Their Bets

In other Phillips 66 news, Director Lisa Ann Davis sold 3,800 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $174.37, for a total transaction of $662,606.00. Following the transaction, the director owned 8,701 shares of the company’s stock, valued at $1,517,193.37. This represents a 30.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Brian Mandell sold 42,800 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $169.53, for a total value of $7,255,884.00. Following the completion of the transaction, the executive vice president directly owned 61,595 shares in the company, valued at $10,442,200.35. This trade represents a 41.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 114,029 shares of company stock worth $19,641,455. 0.40% of the stock is owned by company insiders.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.