B. Metzler seel. Sohn & Co. AG Sells 9,031 Shares of Phillips 66 $PSX

Key Points

• B. Metzler seel. Sohn & Co. AG has cut its position in Phillips 66 by 24.9%, holding 27,238 shares valued at approximately $3.36 million as of its most recent SEC filing.
• Phillips 66 recently reported earnings of $2.38 per share, surpassing analysts' expectations, with revenues of $33.77 billion for the quarter.
• The company declared a quarterly dividend of $1.20 per share, resulting in an annualized yield of 3.6%, with a payout ratio of 115.38%.

B. Metzler seel. Sohn & Co. AG lowered its position in Phillips 66 (NYSE:PSX - Free Report) by 24.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 27,238 shares of the oil and gas company's stock after selling 9,031 shares during the period. B. Metzler seel. Sohn & Co. AG's holdings in Phillips 66 were worth $3,363,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PSX. Pacific Center for Financial Services purchased a new stake in shares of Phillips 66 during the fourth quarter worth about $27,000. von Borstel & Associates Inc. bought a new position in Phillips 66 in the 1st quarter worth approximately $27,000. Olde Wealth Management LLC purchased a new stake in Phillips 66 during the 1st quarter valued at approximately $28,000. Wood Tarver Financial Group LLC purchased a new stake in Phillips 66 during the 4th quarter valued at approximately $29,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Phillips 66 during the first quarter valued at approximately $29,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Trading Up 0.6%

Shares of PSX stock traded up $0.86 during trading hours on Monday, reaching $133.69. 1,530,714 shares of the stock were exchanged, compared to its average volume of 1,979,315. The firm has a market capitalization of $54.03 billion, a price-to-earnings ratio of 32.14, a price-to-earnings-growth ratio of 1.81 and a beta of 1.15. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $140.85. The company's 50-day moving average price is $125.03 and its 200-day moving average price is $119.25. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.59. The business had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same quarter last year, the firm earned $2.31 earnings per share. As a group, equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66's dividend payout ratio is 115.38%.

Analyst Upgrades and Downgrades

Several research analysts have commented on PSX shares. Piper Sandler reissued a "neutral" rating and set a $145.00 price objective (up previously from $144.00) on shares of Phillips 66 in a report on Monday, August 4th. Argus raised shares of Phillips 66 to a "strong-buy" rating in a research note on Thursday, July 31st. Scotiabank restated a "sector perform" rating and issued a $133.00 target price on shares of Phillips 66 in a report on Friday, July 11th. TD Cowen increased their price target on shares of Phillips 66 from $130.00 to $134.00 and gave the company a "buy" rating in a report on Monday, July 28th. Finally, Citigroup lowered Phillips 66 from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $126.00 to $130.00 in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $136.20.

Insiders Place Their Bets

In related news, Director Sigmund L. Cornelius acquired 500 shares of the stock in a transaction on Thursday, July 31st. The stock was bought at an average cost of $123.55 per share, with a total value of $61,775.00. Following the transaction, the director directly owned 21,543 shares in the company, valued at approximately $2,661,637.65. This represents a 2.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Brian Mandell sold 9,800 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the completion of the transaction, the executive vice president owned 56,838 shares in the company, valued at $7,104,750. This represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 9,850 shares of company stock valued at $1,188,910. Insiders own 0.22% of the company's stock.

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.