Commerzbank Aktiengesellschaft FI Has $2.41 Million Position in Phillips 66 (NYSE:PSX)

Commerzbank Aktiengesellschaft FI lessened its holdings in Phillips 66 (NYSE:PSX - Free Report) by 14.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,479 shares of the oil and gas company's stock after selling 3,265 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Phillips 66 were worth $2,406,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Pacific Center for Financial Services bought a new position in Phillips 66 in the fourth quarter valued at $27,000. von Borstel & Associates Inc. bought a new position in Phillips 66 in the first quarter valued at $27,000. Graney & King LLC bought a new position in Phillips 66 in the fourth quarter valued at $28,000. Olde Wealth Management LLC bought a new position in shares of Phillips 66 during the first quarter valued at about $28,000. Finally, Wood Tarver Financial Group LLC bought a new position in shares of Phillips 66 during the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 76.93% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. The Goldman Sachs Group cut Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective on the stock. in a research report on Thursday, March 27th. UBS Group decreased their price objective on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a report on Monday, April 28th. Raymond James Financial set a $142.00 price objective on shares of Phillips 66 and gave the stock an "outperform" rating in a report on Tuesday. Piper Sandler set a $148.00 target price on shares of Phillips 66 and gave the company a "neutral" rating in a research note on Thursday, July 10th. Finally, Evercore ISI assumed coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They set an "outperform" rating and a $130.00 target price for the company. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $135.27.

Phillips 66 Trading Up 0.7%

Shares of PSX traded up $0.85 during mid-day trading on Friday, hitting $126.03. The company had a trading volume of 3,256,697 shares, compared to its average volume of 3,134,375. The business's 50-day simple moving average is $121.35 and its 200-day simple moving average is $118.21. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12. The stock has a market cap of $51.35 billion, a PE ratio of 28.71, a P/E/G ratio of 1.96 and a beta of 1.02.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. The business had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. During the same period last year, the firm earned $1.90 earnings per share. Sell-side analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Tuesday, August 19th. Phillips 66's dividend payout ratio (DPR) is 109.34%.

Insider Activity

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total transaction of $571,090.00. Following the sale, the executive vice president owned 43,373 shares in the company, valued at approximately $5,638,490. The trade was a 9.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brian Mandell sold 9,800 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total value of $1,225,000.00. Following the sale, the executive vice president owned 56,838 shares in the company, valued at approximately $7,104,750. The trade was a 14.71% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.22% of the company's stock.

Phillips 66 Company 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.