Phillips 66 $PSX Shares Sold by Banque Cantonale Vaudoise

Key Points

• Banque Cantonale Vaudoise reduced its Phillips 66 stake by 45.8% in the fourth quarter, selling 8,889 shares and leaving it with 10,531 shares valued at about $1.36 million.
• Phillips 66 reported Q1 earnings of $0.49 per share, beating analyst expectations, though revenue of $32.54 billion fell short of estimates despite being up 6.9% year over year.
• The company announced a quarterly dividend of $1.27 per share payable June 1, which annualizes to $5.08 per share and yields about 2.9%.

Banque Cantonale Vaudoise cut its position in Phillips 66 (NYSE:PSX - Free Report) by 45.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,531 shares of the oil and gas company's stock after selling 8,889 shares during the quarter. Banque Cantonale Vaudoise's holdings in Phillips 66 were worth $1,359,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in Phillips 66 by 11.6% in the 3rd quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company's stock valued at $7,035,574,000 after acquiring an additional 5,356,558 shares during the period. M&T Bank Corp increased its position in Phillips 66 by 462.9% in the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company's stock valued at $352,007,000 after acquiring an additional 2,243,268 shares during the period. AQR Capital Management LLC increased its position in Phillips 66 by 424.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company's stock valued at $257,512,000 after acquiring an additional 1,532,389 shares during the period. Worldquant Millennium Advisors LLC acquired a new position in Phillips 66 in the 2nd quarter valued at about $107,967,000. Finally, Holocene Advisors LP increased its position in Phillips 66 by 2,433.1% in the 2nd quarter. Holocene Advisors LP now owns 711,599 shares of the oil and gas company's stock valued at $84,894,000 after acquiring an additional 683,507 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

NYSE PSX opened at $173.90 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The business's 50 day moving average is $171.95 and its two-hundred day moving average is $153.13. Phillips 66 has a 12-month low of $109.75 and a 12-month high of $190.61. The stock has a market capitalization of $69.72 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 0.26 and a beta of 0.70.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $32.54 billion for the quarter, compared to analysts' expectations of $35.86 billion. During the same quarter in the previous year, the firm posted ($0.90) EPS. The firm's quarterly revenue was up 6.9% on a year-over-year basis. Research analysts expect that Phillips 66 will post 17.64 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be given a dividend of $1.27 per share. The ex-dividend date is Monday, May 18th. This represents a $5.08 annualized dividend and a yield of 2.9%. Phillips 66's payout ratio is presently 50.05%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PSX. Morgan Stanley restated an "overweight" rating and issued a $180.00 price target on shares of Phillips 66 in a research report on Thursday, April 30th. Wells Fargo & Company boosted their price target on Phillips 66 from $163.00 to $201.00 and gave the company an "overweight" rating in a research report on Tuesday, March 31st. Scotiabank boosted their price target on Phillips 66 from $140.00 to $151.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 22nd. Wall Street Zen cut Phillips 66 from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 16th. Finally, Mizuho boosted their price target on Phillips 66 from $152.00 to $170.00 and gave the company a "neutral" rating in a research report on Tuesday, March 17th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, Phillips 66 currently has an average rating of "Moderate Buy" and a consensus target price of $187.11.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 29,400 shares of the business's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the transaction, the chief financial officer owned 97,376 shares in the company, valued at approximately $16,553,920. The trade was a 23.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lisa Ann Davis sold 3,800 shares of the business's stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $174.37, for a total value of $662,606.00. Following the sale, the director directly owned 8,701 shares in the company, valued at $1,517,193.37. This trade represents a 30.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 114,029 shares of company stock worth $19,641,455. Company insiders own 0.40% of the company's stock.

About Phillips 66

Phillips 66 NYSE: PSX is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company's principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.