Phillips 66 (NYSE:PSX) Shares Sold by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI lowered its holdings in Phillips 66 (NYSE:PSX) by 6.4% during the fourth quarter, HoldingsChannel reports. The fund owned 22,744 shares of the oil and gas company’s stock after selling 1,556 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Phillips 66 were worth $2,548,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Mizuho Securities USA LLC increased its stake in Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after purchasing an additional 2,467,316 shares during the last quarter. ING Groep NV grew its position in shares of Phillips 66 by 123.2% in the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after buying an additional 653,032 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Phillips 66 by 7.3% during the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after acquiring an additional 639,323 shares in the last quarter. Bank of Montreal Can lifted its position in Phillips 66 by 63.4% in the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock valued at $214,120,000 after acquiring an additional 633,970 shares during the last quarter. Finally, Mizuho Markets Americas LLC acquired a new position in Phillips 66 in the third quarter valued at $70,983,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE PSX opened at $125.03 on Tuesday. The stock has a market capitalization of $50.97 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 4.84 and a beta of 1.37. The business’s 50 day moving average is $120.89 and its two-hundred day moving average is $126.63. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period last year, the business posted $3.09 EPS. Research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is 93.12%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Wells Fargo & Company boosted their price objective on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Barclays lowered their target price on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. StockNews.com downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday. Finally, Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 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.