Phillips 66 (NYSE:PSX) Shares Bought by Czech National Bank

Czech National Bank raised its position in Phillips 66 (NYSE:PSX) by 6.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,857 shares of the oil and gas company’s stock after purchasing an additional 5,364 shares during the quarter. Czech National Bank’s holdings in Phillips 66 were worth $11,713,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Phillips 66 by 283.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock worth $686,618,000 after acquiring an additional 4,455,220 shares during the last quarter. Norges Bank acquired a new position in shares of Phillips 66 in the 4th quarter worth approximately $497,648,000. Raymond James Financial Inc. acquired a new position in shares of Phillips 66 in the 4th quarter worth approximately $168,790,000. Capitolis Liquid Global Markets LLC acquired a new position in shares of Phillips 66 in the 4th quarter worth approximately $142,185,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Phillips 66 by 14,119.5% in the 1st quarter. GAMMA Investing LLC now owns 1,189,606 shares of the oil and gas company’s stock worth $146,893,000 after acquiring an additional 1,181,240 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Trading Down 1.2%

Shares of NYSE:PSX opened at $113.31 on Monday. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12. The company’s 50 day moving average is $109.26 and its two-hundred day moving average is $118.44. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a market cap of $46.17 billion, a PE ratio of 22.94, a P/E/G ratio of 4.84 and a beta of 1.01.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The company had revenue of $31.92 billion during the quarter, compared to analysts’ expectations of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period last year, the business earned $1.90 earnings per share. Equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.24%. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Monday, May 19th. Phillips 66’s dividend payout ratio (DPR) is 109.34%.

Analyst Ratings Changes

PSX has been the topic of several recent analyst reports. Raymond James decreased their price objective on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Scotiabank reduced their target price on shares of Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. Mizuho increased their target price on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. TD Cowen increased their target price on shares of Phillips 66 from $114.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, May 13th. Finally, Barclays increased their target price on shares of Phillips 66 from $106.00 to $115.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $135.62.

Insider Activity at Phillips 66

In related news, Director Robert W. Pease bought 439 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The shares were purchased at an average cost of $113.85 per share, with a total value of $49,980.15. Following the transaction, the director now directly owns 4,091 shares of the company’s stock, valued at approximately $465,760.35. This represents a 12.02% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.22% of the company’s stock.

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.