Vontobel Holding Ltd. Acquires 19,842 Shares of Phillips 66 (NYSE:PSX)

Vontobel Holding Ltd. increased its stake in Phillips 66 (NYSE:PSX) by 171.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,424 shares of the oil and gas company’s stock after acquiring an additional 19,842 shares during the quarter. Vontobel Holding Ltd.’s holdings in Phillips 66 were worth $4,131,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Crewe Advisors LLC acquired a new stake in Phillips 66 in the first quarter worth $25,000. Keener Financial Planning LLC acquired a new stake in shares of Phillips 66 in the 1st quarter valued at about $26,000. Strategic Financial Concepts LLC bought a new stake in Phillips 66 in the 2nd quarter valued at about $26,000. Redmont Wealth Advisors LLC acquired a new position in Phillips 66 during the 1st quarter worth approximately $28,000. Finally, Ruedi Wealth Management Inc. boosted its holdings in Phillips 66 by 102.1% in the first quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 96 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PSX shares. Piper Sandler set a $144.00 target price on Phillips 66 in a research report on Thursday. JPMorgan Chase & Co. lowered their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Bank of America began coverage on shares of Phillips 66 in a report on Thursday. They set a “buy” rating and a $156.00 price objective for the company. Morgan Stanley lowered their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Finally, Wolfe Research assumed coverage on Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $149.50.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $132.60 on Friday. The firm has a market capitalization of $55.50 billion, a P/E ratio of 11.37, a price-to-earnings-growth ratio of 5.75 and a beta of 1.33. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The business’s fifty day simple moving average is $133.18 and its 200 day simple moving average is $140.63. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last issued 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. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. During the same period in the previous year, the firm earned $3.87 EPS. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, analysts anticipate that Phillips 66 will post 7.85 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.47%. Phillips 66’s dividend payout ratio (DPR) is presently 39.45%.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.22% of the stock is owned by company insiders.

About Phillips 66

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.