J. Safra Sarasin Holding AG Sells 17,020 Shares of Phillips 66 (NYSE:PSX)

J. Safra Sarasin Holding AG lowered its position in Phillips 66 (NYSE:PSX - Free Report) by 80.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,259 shares of the oil and gas company's stock after selling 17,020 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Phillips 66 were worth $526,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. von Borstel & Associates Inc. bought a new stake in shares of Phillips 66 in the first quarter valued at about $27,000. Olde Wealth Management LLC purchased a new position in Phillips 66 during the 1st quarter valued at about $28,000. Opal Wealth Advisors LLC bought a new stake in shares of Phillips 66 in the 1st quarter valued at about $29,000. Pacific Center for Financial Services purchased a new stake in shares of Phillips 66 in the 4th quarter worth approximately $27,000. Finally, Smallwood Wealth Investment Management LLC bought a new position 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 Price Performance

Shares of Phillips 66 stock opened at $121.46 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The firm has a market cap of $49.08 billion, a PE ratio of 29.20, a P/E/G ratio of 1.63 and a beta of 1.09. The business has a 50-day moving average price of $122.58 and a 200 day moving average price of $118.89. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $140.85.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results 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 company had revenue of $33.77 billion for the quarter, compared to analysts' expectations 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 in the previous year, the company posted $2.31 EPS. Sell-side analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 4.0%. The ex-dividend date is Tuesday, August 19th. Phillips 66's dividend payout ratio (DPR) is presently 115.38%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PSX shares. Evercore ISI assumed coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued an "outperform" rating and a $130.00 price objective for the company. Raymond James Financial set a $142.00 price target on Phillips 66 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. UBS Group raised their price objective on Phillips 66 from $141.00 to $143.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Scotiabank reiterated a "sector perform" rating and issued a $133.00 target price on shares of Phillips 66 in a research note on Friday, July 11th. Finally, 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 research report on Monday, July 28th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of "Hold" and a consensus target price of $136.20.

Insider Activity

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction that occurred on Tuesday, July 8th. The shares were 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 of the company's stock, 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 can be accessed through this link. Also, Director Sigmund L. Cornelius acquired 500 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was acquired at an average price of $123.55 per share, with a total value of $61,775.00. Following the completion of the transaction, the director directly owned 21,543 shares of the company's stock, valued at $2,661,637.65. This trade represents a 2.38% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 1,939 shares of company stock valued at $237,725 in the last quarter. 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.

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