Zions Bancorporation NA Sells 1,255 Phillips 66 (NYSE:PSX) Shares

VaselineSeptember 15, 2024

0 4 minutes read

Zions Bancorporation NA lessened its position in Phillips 66 (NYSE:PSX – Free Report) by 38.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,984 shares of the oil and gas company’s stock after selling 1,255 shares during the quarter. Zions Bancorporation NA’s holdings in Phillips 66 were worth $280,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its stake in shares of Phillips 66 by 62.0% in the second quarter. Federated Hermes Inc. now owns 85,219 shares of the oil and gas company’s stock worth $12,030,000 after buying an additional 32,623 shares during the last quarter. Pinkerton Retirement Specialists LLC boosted its stake in Phillips 66 by 5.2% in the second quarter. Pinkerton Retirement Specialists LLC now owns 31,397 shares of the oil and gas company’s stock worth $4,432,000 after buying an additional 1,561 shares during the last quarter. TradeLink Capital LLC bought a new stake in Phillips 66 in the second quarter valued at about $494,000. Meeder Advisory Services Inc. lifted its position in shares of Phillips 66 by 35.7% in the second quarter. Meeder Advisory Services Inc. now owns 9,564 shares of the oil and gas company’s stock valued at $1,350,000 after acquiring an additional 2,518 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors raised its stake in shares of Phillips 66 by 38.0% in the second quarter. Vanguard Capital Wealth Advisors now owns 5,797 shares of the oil and gas company’s stock worth $818,000 after acquiring an additional 1,597 shares during the period. Institutional investors own 76.93% of the company’s shares.

Phillips 66 price performance

NYSE:PSX opened at $126.70 on Friday. The firm has a market cap of $53.03 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 4.50 and a beta of 1.33. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14, and a quick ratio of 0.79. The company has a 50-day simple moving average of $135.79 and a 200-day simple moving average of $144.16. Phillips 66 has a one year low of $107.85 and a one year high of $174.08.

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Phillips 66 (NYSE:PSX – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $37.79 billion. In the same period last year, the company earned $3.87 per share. Phillips 66’s quarterly revenue was up 8.9% compared to the same quarter last year. equities analysts forecast that Phillips 66 will post 9.25 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were given a $1.15 dividend. This represents a dividend of $4.60 on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Insiders place their bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.22% of the stock is owned by insiders.

Analysts set new price targets

PSX has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Wells Fargo & Company boosted their target price on shares of Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Barclays boosted their target price on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. TD Cowen cut their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Wolfe Research began coverage on shares of Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Moderate Buy” and an average target price of $156.92, according to MarketBeat .

See the latest stock report on PSX

Phillips 66 Company Profile

(Free Report)

Phillips 66 operates as an energy manufacturing and logistics company in the United States, 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 raw materials; delivers refined petroleum products to the market; provides terminal and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports and trades natural gas liquids; offers other processing services for a fee; and gathers, processes, transports and markets natural gas.