Banco Bilbao Vizcaya Argentaria S.A. Sells 1,047 Shares of Phillips 66 $PSX

Banco Bilbao Vizcaya Argentaria S.A. trimmed its holdings in Phillips 66 (NYSE:PSX) by 10.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,792 shares of the oil and gas company’s stock after selling 1,047 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Phillips 66 were worth $1,049,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PSX. Wolff Wiese Magana LLC boosted its position in shares of Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 82 shares during the last quarter. Pinpoint Asset Management Ltd bought a new stake in Phillips 66 in the 1st quarter valued at $29,000. Webster Bank N. A. lifted 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 worth $32,000 after purchasing an additional 100 shares in the last quarter. Nova Wealth Management Inc. purchased a new stake in Phillips 66 in the 1st quarter worth $37,000. Finally, GKV Capital Management Co. Inc. boosted its holdings in shares of Phillips 66 by 111.5% during the 1st quarter. GKV Capital Management Co. Inc. now owns 330 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 174 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $136.79 on Tuesday. The stock has a market cap of $55.11 billion, a price-to-earnings ratio of 37.37, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The stock has a 50 day moving average price of $134.10 and a 200-day moving average price of $126.43. Phillips 66 has a one year low of $91.01 and a one year high of $143.25.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. The company had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.During the same period last year, the company earned $2.04 earnings per share. Equities analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is 131.15%.

Insider Transactions at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the transaction, the executive vice president owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. This represents a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $138.00, for a total value of $4,140,000.00. Following the completion of the sale, the chief financial officer owned 89,771 shares in the company, valued at approximately $12,388,398. The trade was a 25.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 38,786 shares of company stock valued at $5,348,075. 0.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PSX shares. Jefferies Financial Group lifted their target price on Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Barclays raised their price target on Phillips 66 from $132.00 to $141.00 and gave the company an “equal weight” rating in a report on Monday. Raymond James Financial reaffirmed an “outperform” rating and set a $150.00 price objective (up from $145.00) on shares of Phillips 66 in a report on Friday, October 17th. Piper Sandler increased their target price on Phillips 66 from $159.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Cowen reissued a “buy” rating on shares of Phillips 66 in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $145.71.

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.