Swiss National Bank Purchases 10,400 Shares of Phillips 66 (PSX)
Swiss National Bank raised its position in Phillips 66 (NYSE:PSX) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,617,514 shares of the oil and gas company’s stock after acquiring an additional 10,400 shares during the quarter. Swiss National Bank owned 316,223.34% of Phillips 66 worth $148,180,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the business. Guardian Life Insurance Co. of America grew its position in Phillips 66 by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,708 shares of the oil and gas company’s stock valued at $135,000 after acquiring an additional 11 shares in the last quarter. Joel Isaacson & Co. LLC boosted its stake in shares of Phillips 66 by 0.4% during the 2nd quarter. Joel Isaacson & Co. LLC now owns 3,821 shares of the oil and gas company’s stock valued at $316,000 after buying an additional 14 shares during the last quarter. Hudock Capital Group LLC boosted its stake in shares of Phillips 66 by 0.6% during the 2nd quarter. Hudock Capital Group LLC now owns 2,509 shares of the oil and gas company’s stock valued at $207,000 after buying an additional 16 shares during the last quarter. Good Life Advisors LLC boosted its stake in shares of Phillips 66 by 0.3% during the 2nd quarter. Good Life Advisors LLC now owns 6,198 shares of the oil and gas company’s stock valued at $511,000 after buying an additional 17 shares during the last quarter. Finally, Northwest Quadrant Wealth Management LLC boosted its stake in shares of Phillips 66 by 0.6% during the 1st quarter. Northwest Quadrant Wealth Management LLC now owns 2,862 shares of the oil and gas company’s stock valued at $228,000 after buying an additional 18 shares during the last quarter. 69.64% of the stock is owned by institutional investors.
Phillips 66 (NYSE:PSX) opened at $93.66 on Friday. The company has a market capitalization of $47,908.12, a price-to-earnings ratio of 26.99, a PEG ratio of 2.41 and a beta of 1.20. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. Phillips 66 has a fifty-two week low of $75.14 and a fifty-two week high of $95.00.
Phillips 66 (NYSE:PSX) last released its earnings results on Friday, October 27th. The oil and gas company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. The firm had revenue of $26.21 billion for the quarter, compared to analyst estimates of $29.94 billion. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. During the same period in the previous year, the company earned $1.05 earnings per share. sell-side analysts predict that Phillips 66 will post 4.58 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, October 17th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Thursday, November 16th. Phillips 66’s payout ratio is currently 70.18%.
Phillips 66 declared that its board has initiated a share repurchase program on Monday, October 9th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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Several brokerages recently issued reports on PSX. BidaskClub cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Vetr cut Phillips 66 from a “buy” rating to a “hold” rating and set a $97.16 price objective on the stock. in a research note on Thursday, November 2nd. Jefferies Group LLC lowered Phillips 66 from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $95.00 to $75.14 in a research report on Monday, October 16th. Scotiabank set a $86.00 target price on Phillips 66 and gave the stock a “hold” rating in a research report on Tuesday, August 1st. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $91.00 target price (up from $84.00) on shares of Phillips 66 in a research report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Phillips 66 has an average rating of “Hold” and an average price target of $93.33.
In related news, VP Chukwuemeka A. Oyolu sold 1,151 shares of Phillips 66 stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $89.08, for a total transaction of $102,531.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.50% of the stock is owned by insiders.
About Phillips 66
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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