Swiss National Bank Buys 75,100 Shares of Phillips 66 $PSX

Key Points

• Swiss National Bank increased its Phillips 66 stake by 6.8% in Q1, buying 75,100 more shares and bringing its holding to 1,182,450 shares worth about $215.4 million.
• Wall Street sentiment remains constructive: analysts currently rate Phillips 66 as a Moderate Buy, with an average price target of $196.06 despite some mixed individual rating changes.
• Phillips 66 reported quarterly EPS of $0.49, beating expectations, and also announced a $1.27 quarterly dividend payable Sept. 1, implying a 2.5% yield.

Swiss National Bank boosted its stake in Phillips 66 (NYSE:PSX - Free Report) by 6.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,182,450 shares of the oil and gas company's stock after purchasing an additional 75,100 shares during the quarter. Swiss National Bank owned about 0.29% of Phillips 66 worth $215,419,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Phillips 66 by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company's stock worth $6,701,052,000 after purchasing an additional 205,480 shares in the last quarter. State Street Corp increased its position in Phillips 66 by 0.8% in the 4th quarter. State Street Corp now owns 23,589,550 shares of the oil and gas company's stock valued at $3,043,996,000 after buying an additional 175,616 shares in the last quarter. Geode Capital Management LLC increased its position in Phillips 66 by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company's stock valued at $1,338,596,000 after buying an additional 45,340 shares in the last quarter. Norges Bank acquired a new position in Phillips 66 during the 4th quarter worth approximately $640,206,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Phillips 66 by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,944,561 shares of the oil and gas company's stock worth $509,006,000 after buying an additional 89,621 shares during the period. 76.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wells Fargo & Company raised their price objective on Phillips 66 from $163.00 to $201.00 and gave the company an "overweight" rating in a research note on Tuesday, March 31st. TD Cowen upped their target price on Phillips 66 from $213.00 to $220.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. Tudor Pickering upgraded Phillips 66 from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. Piper Sandler lifted their price target on shares of Phillips 66 from $168.00 to $177.00 and gave the company a "neutral" rating in a research report on Wednesday, April 8th. Finally, Zacks Research lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $196.06.

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Kevin Omar Meyers purchased 175 shares of the firm's stock in a transaction that occurred on Wednesday, May 6th. The stock was bought at an average cost of $173.12 per share, with a total value of $30,296.00. Following the completion of the transaction, the director owned 16,799 shares of the company's stock, valued at $2,908,242.88. The trade was a 1.05% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin J. Mitchell sold 11,021 shares of Phillips 66 stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the sale, the chief financial officer owned 97,376 shares in the company, valued at $18,504,361.28. This trade represents a 10.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 41,021 shares of company stock valued at $7,195,257 over the last ninety days. 0.40% of the stock is currently owned by insiders.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $206.96 on Monday. Phillips 66 has a 52 week low of $118.07 and a 52 week high of $207.14. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The business has a 50 day moving average price of $179.03 and a 200-day moving average price of $165.75. The company has a market cap of $82.97 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 0.27 and a beta of 0.69.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly 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. The business had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.Phillips 66's revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.90) earnings per share. Equities analysts anticipate that Phillips 66 will post 19.84 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a $1.27 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.5%. Phillips 66's dividend payout ratio is presently 50.05%.

Phillips 66 Profile

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.

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