Phillips 66 $PSX Shares Acquired by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI increased its holdings in Phillips 66 (NYSE:PSX) by 29.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,257 shares of the oil and gas company’s stock after purchasing an additional 8,728 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Phillips 66 were worth $5,204,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Evolution Wealth Management Inc. acquired a new position in shares of Phillips 66 during the 2nd quarter valued at about $25,000. Wolff Wiese Magana LLC grew its holdings in Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 82 shares during the period. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Phillips 66 during the second quarter worth approximately $32,000. Twin Peaks Wealth Advisors LLC purchased a new position in Phillips 66 during the second quarter worth approximately $38,000. Finally, Country Trust Bank boosted its holdings in shares of Phillips 66 by 191.8% in the 3rd quarter. Country Trust Bank now owns 321 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 211 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Phillips 66 news, EVP Brian Mandell sold 26,200 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $137.68, for a total value of $3,607,216.00. Following the transaction, the executive vice president owned 56,838 shares in the company, valued at $7,825,455.84. The trade was a 31.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the firm’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $145.00, for a total value of $637,130.00. Following the sale, the executive vice president owned 30,193 shares of the company’s stock, valued at $4,377,985. This represents a 12.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 86,094 shares of company stock worth $11,955,366. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Price Performance

PSX stock opened at $141.51 on Friday. The firm has a market cap of $57.02 billion, a P/E ratio of 38.66, a price-to-earnings-growth ratio of 0.40 and a beta of 0.90. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.23. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $146.88. The stock has a 50-day simple moving average of $136.13 and a 200-day simple moving average of $132.44.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.14 by $0.38. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.The firm had revenue of $33.69 billion for the quarter, compared to analyst estimates of $32.29 billion. During the same period in the previous year, the company posted $2.04 EPS. On average, equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PSX shares. Jefferies Financial Group upped their price objective on Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a report on Friday, October 10th. The Goldman Sachs Group upped their price target on Phillips 66 from $152.00 to $164.00 and gave the stock a “neutral” rating in a research note on Thursday. Citigroup lifted their price objective on Phillips 66 from $137.00 to $146.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Piper Sandler set a $153.00 target price on shares of Phillips 66 in a research report on Monday, January 12th. Finally, Raymond James Financial raised their price target on shares of Phillips 66 from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $153.53.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.