Swiss National Bank Has $134.72 Million Holdings in Phillips 66 (NYSE:PSX)

Swiss National Bank reduced its stake in shares of Phillips 66 (NYSE:PSX) by 6.0% during the 4th quarter, HoldingsChannel reports. The fund owned 1,182,450 shares of the oil and gas company’s stock after selling 76,100 shares during the period. Swiss National Bank’s holdings in Phillips 66 were worth $134,717,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Assetmark Inc. raised its stake in shares of Phillips 66 by 20.9% during the 3rd quarter. Assetmark Inc. now owns 2,692 shares of the oil and gas company’s stock worth $354,000 after purchasing an additional 466 shares in the last quarter. Covestor Ltd increased its holdings in Phillips 66 by 25.4% in the third quarter. Covestor Ltd now owns 514 shares of the oil and gas company’s stock worth $68,000 after buying an additional 104 shares during the last quarter. GSA Capital Partners LLP bought a new position in Phillips 66 during the third quarter valued at approximately $817,000. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Phillips 66 by 28.6% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 2,143 shares of the oil and gas company’s stock valued at $282,000 after acquiring an additional 477 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Phillips 66 by 27.6% in the third quarter. Victory Capital Management Inc. now owns 625,290 shares of the oil and gas company’s stock worth $82,194,000 after acquiring an additional 135,142 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Down 1.3 %

PSX opened at $122.42 on Friday. The business has a 50 day moving average of $122.61 and a 200-day moving average of $126.08. The stock has a market capitalization of $49.91 billion, a price-to-earnings ratio of 24.78, a P/E/G ratio of 4.84 and a beta of 1.31. 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 has a 1-year low of $108.91 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the company earned $3.09 earnings per share. As a group, sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.76%. Phillips 66’s dividend payout ratio is 93.12%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PSX. StockNews.com downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Wells Fargo & Company raised their target price on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research report on Friday, January 3rd. Mizuho lowered their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Finally, Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

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.