Phillips 66 (NYSE:PSX) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 179,172 shares of the oil and gas company’s stock after selling 1,059 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Phillips 66 were worth $23,855,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale boosted its holdings 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 valued at $26,501,000 after purchasing an additional 22,278 shares during the period. Eldred Rock Partners LLC bought a new stake in shares of Phillips 66 in the fourth quarter valued at about $10,402,000. Choate Investment Advisors bought a new stake in Phillips 66 during the third quarter worth about $247,000. First Dallas Securities Inc. acquired a new position in shares of Phillips 66 in the third quarter valued at approximately $753,000. Finally, TIAA Trust National Association boosted its holdings in shares of Phillips 66 by 32.9% during 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 in the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $157.28 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08. The stock’s 50 day simple moving average is $154.09 and its two-hundred day simple moving average is $134.94. The company has a market cap of $67.29 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 1.99 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. The firm had revenue of $38.74 billion during the quarter, compared to analysts’ expectations of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. As a group, equities analysts anticipate that Phillips 66 will post 13.2 earnings per share 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. Stockholders of record on Monday, May 20th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.92%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s payout ratio is presently 27.15%.

Analyst Upgrades and Downgrades

PSX has been the subject of several research analyst reports. Piper Sandler raised their target price on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. StockNews.com raised Phillips 66 from a “hold” rating to a “buy” rating in a research note on Saturday, February 10th. The Goldman Sachs Group upped their target price on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Barclays increased their price objective on Phillips 66 from $132.00 to $139.00 and gave the company an “equal weight” rating in a research note on Monday, February 5th. Finally, Citigroup assumed coverage on Phillips 66 in a report on Wednesday, January 24th. They set a “buy” rating for the company. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $156.86.

Insider Transactions at Phillips 66

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The disclosure for this sale can be found here. In the last three months, insiders sold 35,056 shares of company stock valued at $5,272,681. Corporate insiders own 0.22% of the company’s stock.

About Phillips 66

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.