Phillips 66 (NYSE:PSX) Stock Position Reduced by Swiss National Bank

Swiss National Bank trimmed its position in Phillips 66 (NYSE:PSX) by 6.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,182,450 shares of the oil and gas company’s stock after selling 76,100 shares during the quarter. Swiss National Bank owned approximately 0.29% of Phillips 66 worth $134,717,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Bogart Wealth LLC increased its stake in Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 120 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Phillips 66 in the 4th quarter valued at about $25,000. Stephens Consulting LLC grew its position in shares of Phillips 66 by 83.5% during the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 111 shares during the last quarter. Human Investing LLC acquired a new stake in Phillips 66 during the fourth quarter worth about $30,000. Finally, Webster Bank N. A. lifted its holdings in Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 88 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PSX shares. Mizuho lowered their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Wells Fargo & Company raised their target price on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. StockNews.com downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Finally, Barclays dropped their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Trading Down 1.3 %

Shares of Phillips 66 stock opened at $122.42 on Friday. The business has a fifty day simple moving average of $122.61 and a 200-day simple moving average of $126.08. The firm has a market cap of $49.91 billion, a price-to-earnings ratio of 24.78, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. Phillips 66 has a fifty-two week low of $108.91 and a fifty-two week high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter last year, the company earned $3.09 earnings per share. On average, equities analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a $1.15 dividend. The ex-dividend date was Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 3.76%. Phillips 66’s dividend payout ratio is currently 93.12%.

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.