Swiss National Bank Sells 17,700 Shares of Phillips 66 (NYSE:PSX)

Key Points

• Swiss National Bank reduced its stake in Phillips 66 by 1.5% to approximately $143.82 million, holding about 0.29% of the company after selling 17,700 shares in the first quarter.
• Pursuant to recent earnings data, Phillips 66 reported an EPS of $2.38, exceeding analysts' expectations of $1.79, alongside a revenue of $33.77 billion in the last quarter.
• Phillips 66 announced a quarterly dividend of $1.20 per share, scheduled for payment on September 2nd, representing an annualized yield of 4.0%.

Swiss National Bank trimmed its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 1.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,164,750 shares of the oil and gas company's stock after selling 17,700 shares during the quarter. Swiss National Bank owned 0.29% of Phillips 66 worth $143,823,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PSX. Cohen & Steers Inc. boosted its holdings in shares of Phillips 66 by 40.3% in the 4th quarter. Cohen & Steers Inc. now owns 91,663 shares of the oil and gas company's stock worth $10,443,000 after purchasing an additional 26,318 shares in the last quarter. Cary Street Partners Financial LLC purchased a new position in shares of Phillips 66 in the 4th quarter worth about $4,333,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Phillips 66 by 20.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company's stock worth $19,625,000 after purchasing an additional 26,825 shares in the last quarter. Alta Advisers Ltd purchased a new position in shares of Phillips 66 in the 1st quarter worth about $253,000. Finally, Advisory Resource Group boosted its holdings in shares of Phillips 66 by 6.8% in the 1st quarter. Advisory Resource Group now owns 256,327 shares of the oil and gas company's stock worth $31,651,000 after purchasing an additional 16,300 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Insider Activity at Phillips 66

In related news, Director Robert W. Pease purchased 439 shares of the stock in a transaction dated Thursday, May 22nd. The stock was purchased at an average price of $113.85 per share, with a total value of $49,980.15. Following the transaction, the director directly owned 4,091 shares in the company, valued at $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brian Mandell sold 9,800 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the sale, the executive vice president directly owned 56,838 shares in the company, valued at $7,104,750. This trade represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased 1,939 shares of company stock worth $237,725 over the last quarter. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Trading Up 1.4%

PSX traded up $1.68 during midday trading on Tuesday, reaching $120.05. 1,749,140 shares of the company's stock traded hands, compared to its average volume of 3,395,297. The firm has a fifty day moving average of $123.17 and a two-hundred day moving average of $118.86. The stock has a market capitalization of $48.52 billion, a price-to-earnings ratio of 28.86, a P/E/G ratio of 1.61 and a beta of 1.09. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. Phillips 66 has a 52 week low of $91.01 and a 52 week 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. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%. The firm had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same quarter in the prior year, the company earned $2.31 EPS. On average, equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66's dividend payout ratio (DPR) is 115.38%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Citigroup cut Phillips 66 from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $126.00 to $130.00 in a report on Wednesday, July 16th. Barclays upped their price objective on Phillips 66 from $115.00 to $127.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. UBS Group increased their target price on Phillips 66 from $141.00 to $143.00 and gave the company a "buy" rating in a report on Monday, July 28th. Wells Fargo & Company dropped their target price on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a report on Wednesday, June 11th. Finally, Morgan Stanley increased their target price on Phillips 66 from $122.00 to $128.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Ten equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Phillips 66 has an average rating of "Moderate Buy" and an average target price of $136.20.

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.