Swiss National Bank Sells 8,200 Shares of Phillips 66 (NYSE:PSX)

Swiss National Bank cut its stake in shares of Phillips 66 (NYSE:PSX) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,258,550 shares of the oil and gas company’s stock after selling 8,200 shares during the quarter. Swiss National Bank’s holdings in Phillips 66 were worth $165,436,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PSX. Crewe Advisors LLC bought a new stake in shares of Phillips 66 during the 1st quarter valued at approximately $25,000. Strategic Financial Concepts LLC bought a new stake in shares of Phillips 66 during the 2nd quarter valued at approximately $26,000. nVerses Capital LLC bought a new stake in shares of Phillips 66 during the 3rd quarter valued at approximately $26,000. Values First Advisors Inc. bought a new stake in shares of Phillips 66 during the 3rd quarter valued at approximately $30,000. Finally, Bank & Trust Co bought a new stake in shares of Phillips 66 during the 2nd quarter valued at approximately $31,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Up 0.9 %

Phillips 66 stock opened at $130.91 on Monday. 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 has a 12-month low of $111.90 and a 12-month high of $174.08. The firm’s fifty day moving average is $129.75 and its 200 day moving average is $135.73. The company has a market capitalization of $54.06 billion, a PE ratio of 16.80, a PEG ratio of 4.29 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the previous year, the company earned $4.63 EPS. Phillips 66’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, sell-side analysts predict that Phillips 66 will post 7.63 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.51%. Phillips 66’s payout ratio is presently 59.05%.

Analysts Set New Price Targets

A number of research firms have weighed in on PSX. Raymond James boosted their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Wells Fargo & Company reduced their target price on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Barclays reduced their target price on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Finally, Bank of America began coverage on shares of Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $149.69.

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.