Phillips 66 $PSX Stock Position Raised by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 63.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 172,691 shares of the oil and gas company’s stock after purchasing an additional 67,062 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Phillips 66 were worth $22,284,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. GHP Investment Advisors Inc. grew its position in shares of Phillips 66 by 2.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock valued at $414,000 after buying an additional 72 shares during the last quarter. L2 Asset Management LLC grew its position in shares of Phillips 66 by 4.0% during the 3rd quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock valued at $257,000 after buying an additional 72 shares during the last quarter. Mesirow Financial Investment Management Inc. grew its position in shares of Phillips 66 by 0.5% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company’s stock valued at $2,130,000 after buying an additional 73 shares during the last quarter. KCM Investment Advisors LLC grew its position in shares of Phillips 66 by 1.6% during the 3rd quarter. KCM Investment Advisors LLC now owns 4,636 shares of the oil and gas company’s stock valued at $631,000 after buying an additional 74 shares during the last quarter. Finally, Abacus Planning Group Inc. grew its position in Phillips 66 by 3.9% in the 4th quarter. Abacus Planning Group Inc. now owns 1,989 shares of the oil and gas company’s stock worth $257,000 after purchasing an additional 74 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PSX. Zacks Research cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Argus upped their target price on shares of Phillips 66 from $152.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Wells Fargo & Company upped their target price on shares of Phillips 66 from $163.00 to $201.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. Wall Street Zen cut shares of Phillips 66 from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 11th. Finally, Raymond James Financial upped their target price on shares of Phillips 66 from $175.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 25th. Eleven equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $180.72.

Insiders Place Their Bets

In related news, EVP Don Baldridge sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the executive vice president directly owned 38,488 shares in the company, valued at approximately $6,158,080. This trade represents a 16.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lisa Ann Davis sold 3,800 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $174.37, for a total transaction of $662,606.00. Following the sale, the director owned 8,701 shares of the company’s stock, valued at $1,517,193.37. The trade was a 30.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 95,923 shares of company stock valued at $16,399,619. 0.40% of the stock is currently owned by insiders.

Phillips 66 Trading Up 2.4%

Phillips 66 stock opened at $159.48 on Wednesday. The firm has a 50 day simple moving average of $166.55 and a 200-day simple moving average of $147.51. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.30 and a quick ratio of 0.91. The stock has a market capitalization of $63.91 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 0.27 and a beta of 0.76. Phillips 66 has a 12-month low of $98.45 and a 12-month high of $190.61.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.32. The business had revenue of $32.16 billion during the quarter, compared to analysts’ expectations of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. During the same period last year, the firm posted ($0.15) earnings per share. As a group, equities research analysts expect that Phillips 66 will post 13.37 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be issued a $1.27 dividend. The ex-dividend date is Monday, May 18th. This represents a $5.08 annualized dividend and a dividend yield of 3.2%. Phillips 66’s dividend payout ratio (DPR) is 46.95%.

About Phillips 66

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.