Phillips 66 $PSX Shares Sold by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 82.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,061 shares of the oil and gas company’s stock after selling 33,617 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Phillips 66 were worth $1,286,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PSX. Brighton Jones LLC boosted 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 worth $1,166,000 after buying an additional 7,214 shares during the last quarter. Woodline Partners LP increased its stake in shares of Phillips 66 by 40.7% during 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 acquiring an additional 10,089 shares during the last quarter. Sei Investments Co. increased its stake in shares of Phillips 66 by 28.3% during 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 acquiring an additional 34,698 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Phillips 66 by 9.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company’s stock worth $41,359,000 after acquiring an additional 28,988 shares during the period. Finally, Glenview Trust co lifted its holdings in shares of Phillips 66 by 2.6% during the 2nd quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company’s stock worth $1,068,000 after acquiring an additional 229 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insiders Place Their Bets

In other Phillips 66 news, Director Kevin Omar Meyers purchased 175 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average cost of $173.12 per share, with a total value of $30,296.00. Following the transaction, the director owned 16,799 shares in the company, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin J. Mitchell sold 29,400 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $170.00, for a total value of $4,998,000.00. Following the completion of the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $16,553,920. This represents a 23.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 41,021 shares of company stock worth $7,195,257. Insiders own 0.40% of the company’s stock.

Phillips 66 Stock Up 1.6%

Shares of NYSE:PSX opened at $212.09 on Wednesday. The stock has a 50-day simple moving average of $180.44 and a 200-day simple moving average of $166.89. The stock has a market capitalization of $85.03 billion, a P/E ratio of 20.90, a PEG ratio of 0.27 and a beta of 0.69. Phillips 66 has a 1 year low of $118.07 and a 1 year high of $212.39. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.54) by $1.03. The firm had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. Phillips 66’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.90) earnings per share. Equities analysts forecast that Phillips 66 will post 19.84 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a $1.27 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.4%. Phillips 66’s dividend payout ratio is presently 50.05%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PSX. Barclays boosted their target price on shares of Phillips 66 from $177.00 to $183.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Wall Street Zen downgraded shares of Phillips 66 from a “strong-buy” rating to a “buy” rating in a research note on Saturday. The Goldman Sachs Group increased their price target on shares of Phillips 66 from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 19th. Argus lifted their price target on shares of Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Finally, Scotiabank boosted their price objective on shares of Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $197.17.

Phillips 66 Profile

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.