Zurcher Kantonalbank Zurich Cantonalbank Sells 1,059 Shares of Phillips 66 (NYSE:PSX)

Zurcher Kantonalbank Zurich Cantonalbank lowered its holdings in Phillips 66 (NYSE:PSX) by 0.6% in the fourth quarter, Holdings Channel reports. The firm owned 179,172 shares of the oil and gas company’s stock after selling 1,059 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Phillips 66 were worth $23,855,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. First Capital Advisors Group LLC. acquired a new stake in Phillips 66 in the second quarter valued at $25,000. Cornerstone Planning Group LLC lifted its stake in Phillips 66 by 134.8% in the third 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 during the last quarter. Worth Asset Management LLC acquired a new stake in Phillips 66 in the first quarter valued at $32,000. Bruce G. Allen Investments LLC acquired a new stake in Phillips 66 in the fourth quarter valued at $36,000. Finally, Bell Investment Advisors Inc lifted its stake in Phillips 66 by 82.1% in the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 138 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.4 %

Shares of Phillips 66 stock opened at $157.28 on Thursday. The firm has a market capitalization of $67.29 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 1.99 and a beta of 1.37. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. The firm’s 50 day moving average is $154.09 and its 200 day moving average is $134.94. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.72. The company had revenue of $38.74 billion for the quarter, compared to analyst estimates of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. Equities research analysts forecast that Phillips 66 will post 13.2 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm 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 dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.92%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. Phillips 66’s payout ratio is presently 27.15%.

Insiders Place Their Bets

In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the sale, the vice president now directly owns 6,583 shares in the company, valued at $1,036,164.20. The disclosure for this sale can be found here. Insiders have sold 35,056 shares of company stock valued at $5,272,681 in the last ninety days. 0.22% of the stock is currently owned by insiders.

Analyst Ratings Changes

PSX has been the subject of a number of research reports. Piper Sandler raised their target price on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Bank of America raised their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Barclays lifted their price objective on shares of Phillips 66 from $132.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Monday, February 5th. Mizuho dropped their price objective on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.86.

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.