Phillips 66 (NYSE:PSX) Shares Sold by Swiss National Bank

Swiss National Bank reduced its stake in Phillips 66 (NYSE:PSX - Free Report) by 0.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,258,550 shares of the oil and gas company's stock after selling 8,200 shares during the period. Swiss National Bank owned 0.30% of Phillips 66 worth $165,436,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PSX. Crewe Advisors LLC purchased a new position in Phillips 66 in the first quarter valued at approximately $25,000. Strategic Financial Concepts LLC acquired a new stake in shares of Phillips 66 in the second quarter valued at approximately $26,000. nVerses Capital LLC acquired a new stake in shares of Phillips 66 in the third quarter valued at approximately $26,000. Values First Advisors Inc. acquired a new stake in shares of Phillips 66 in the third quarter valued at approximately $30,000. Finally, Bank & Trust Co acquired a new stake in shares of Phillips 66 in the second quarter valued at approximately $31,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PSX has been the subject of several research analyst reports. Scotiabank decreased their price objective on Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. decreased their price objective on Phillips 66 from $160.00 to $141.00 and set an "overweight" rating for the company in a report on Wednesday, October 2nd. Mizuho decreased their price objective on Phillips 66 from $154.00 to $150.00 and set a "neutral" rating for the company in a report on Monday, September 16th. Bank of America initiated coverage on Phillips 66 in a report on Thursday, October 17th. They set a "buy" rating and a $156.00 price target for the company. Finally, Barclays decreased their price target on Phillips 66 from $133.00 to $124.00 and set an "equal weight" rating for the company in a report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $149.69.

Phillips 66 Price Performance

Shares of PSX stock traded up $1.54 during mid-day trading on Monday, reaching $131.32. The stock had a trading volume of 2,356,405 shares, compared to its average volume of 2,661,247. Phillips 66 has a 12-month low of $114.94 and a 12-month high of $174.08. The company has a market cap of $54.23 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 4.29 and a beta of 1.33. The business has a 50-day simple moving average of $129.75 and a 200 day simple moving average of $135.73. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to analysts' expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm's quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $4.63 EPS. On average, sell-side analysts anticipate that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Monday, November 18th. Phillips 66's dividend payout ratio is presently 59.05%.

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.