Zurcher Kantonalbank Zurich Cantonalbank Purchases 3,889 Shares of Phillips 66 (NYSE:PSX)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Phillips 66 (NYSE:PSX) by 4.8% during the 3rd quarter, Holdings Channel reports. The firm owned 85,608 shares of the oil and gas company’s stock after purchasing an additional 3,889 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Phillips 66 were worth $11,253,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Phillips 66 by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock valued at $1,189,035,000 after acquiring an additional 402,925 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Phillips 66 by 0.5% in the 2nd quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock valued at $522,240,000 after purchasing an additional 18,238 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Phillips 66 by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock worth $514,253,000 after purchasing an additional 111,261 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Phillips 66 by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock worth $381,453,000 after purchasing an additional 16,941 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Phillips 66 by 2.9% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company’s stock valued at $397,193,000 after purchasing an additional 79,301 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.5 %

NYSE PSX opened at $133.98 on Friday. Phillips 66 has a 52 week low of $119.77 and a 52 week high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock’s 50 day moving average price is $130.68 and its two-hundred day moving average price is $134.92. The stock has a market capitalization of $55.33 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 4.35 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter in the prior year, the company posted $4.63 earnings per share. The firm’s revenue was down 10.3% on a year-over-year basis. As a group, analysts anticipate that Phillips 66 will post 7.66 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 59.05%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PSX. Piper Sandler set a $144.00 target price on Phillips 66 in a report on Thursday, October 17th. Scotiabank decreased their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Mizuho lowered their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Morgan Stanley reduced their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Finally, Barclays lowered their price objective on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $149.69.

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.