Czech National Bank Raises Stake in Phillips 66 $PSX

by · The Cerbat Gem

Czech National Bank increased its stake in Phillips 66 (NYSE:PSX – Free Report) by 5.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 99,592 shares of the oil and gas company’s stock after buying an additional 4,735 shares during the period. Czech National Bank’s holdings in Phillips 66 were worth $11,881,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Everpar Advisors LLC raised its stake in Phillips 66 by 41.2% in the 2nd quarter. Everpar Advisors LLC now owns 5,346 shares of the oil and gas company’s stock valued at $638,000 after acquiring an additional 1,560 shares during the period. Martin Capital Partners LLC raised its stake in Phillips 66 by 248.4% in the 2nd quarter. Martin Capital Partners LLC now owns 34,158 shares of the oil and gas company’s stock valued at $4,075,000 after acquiring an additional 24,354 shares during the period. Webster Bank N. A. raised its stake in Phillips 66 by 58.8% in the 2nd quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 100 shares during the period. RMR Wealth Builders bought a new stake in Phillips 66 in the 2nd quarter valued at about $2,574,000. Finally, Livelsberger Financial Advisory bought a new stake in Phillips 66 in the 2nd quarter valued at about $54,000. 76.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PSX. Mizuho boosted their price objective on Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Monday. TD Cowen boosted their price objective on Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Argus upgraded Phillips 66 to a “strong-buy” rating in a research note on Thursday, July 31st. Compass Point started coverage on Phillips 66 in a research report on Wednesday, June 18th. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. set a $115.00 price target on Phillips 66 in a research report on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $136.67.

Read Our Latest Research Report on Phillips 66

Insider Buying and Selling

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $135.00, for a total transaction of $593,055.00. Following the completion of the sale, the executive vice president owned 38,980 shares of the company’s stock, valued at approximately $5,262,300. This represents a 10.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael A. Heim acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, July 30th. The shares were bought at an average cost of $125.97 per share, with a total value of $125,970.00. Following the purchase, the director owned 12,043 shares of the company’s stock, valued at approximately $1,517,056.71. This trade represents a 9.06% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 9,850 shares of company stock worth $1,188,910. 0.22% of the stock is owned by company insiders.

Phillips 66 Stock Up 1.4%

Shares of PSX opened at $133.02 on Wednesday. The firm has a market cap of $53.76 billion, a P/E ratio of 31.98, a P/E/G ratio of 1.96 and a beta of 1.15. The stock has a 50 day simple moving average of $127.10 and a two-hundred day simple moving average of $119.59. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $140.60.

Phillips 66 (NYSE:PSX – Get Free Report) last issued its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.59. The business had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same quarter in the prior year, the firm earned $2.31 earnings per share. On average, analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Phillips 66’s dividend payout ratio is 115.38%.

Phillips 66 Profile

(Free Report)

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.

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