Czech National Bank Acquires 4,477 Shares of Phillips 66 (NYSE:PSX)

Czech National Bank raised its position in Phillips 66 (NYSE:PSX) by 5.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,266 shares of the oil and gas company’s stock after acquiring an additional 4,477 shares during the period. Czech National Bank’s holdings in Phillips 66 were worth $11,208,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Crewe Advisors LLC acquired a new stake in Phillips 66 in the first quarter valued at approximately $25,000. Keener Financial Planning LLC acquired a new stake in shares of Phillips 66 during the first quarter worth $26,000. Strategic Financial Concepts LLC acquired a new stake in shares of Phillips 66 during the second quarter worth $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Phillips 66 during the fourth quarter worth $27,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Phillips 66 during the first quarter worth $28,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wells Fargo & Company lifted their price objective on shares of Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Wolfe Research began coverage on shares of Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Piper Sandler reduced their target price on shares of Phillips 66 from $151.00 to $136.00 and set an “overweight” rating for the company in a report on Friday, September 20th. Barclays raised their target price on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $152.71.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Price Performance

Shares of NYSE PSX traded down $0.31 during trading on Friday, hitting $138.62. The company had a trading volume of 2,468,549 shares, compared to its average volume of 2,733,967. The stock has a fifty day simple moving average of $133.83 and a two-hundred day simple moving average of $142.39. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08. The firm has a market capitalization of $58.77 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 5.28 and a beta of 1.33. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The firm had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. Phillips 66’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.87 earnings per share. On average, research analysts expect that Phillips 66 will post 8.27 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.32%. Phillips 66’s payout ratio is presently 35.38%.

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.