Bremer Bank National Association Raises Stake in Phillips 66 (NYSE:PSX)

Bremer Bank National Association lifted its stake in Phillips 66 (NYSE:PSX - Free Report) by 9.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,553 shares of the oil and gas company's stock after purchasing an additional 3,588 shares during the period. Bremer Bank National Association's holdings in Phillips 66 were worth $5,007,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bogart Wealth LLC increased its holdings in Phillips 66 by 120.0% in the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock valued at $25,000 after buying an additional 120 shares during the last quarter. J.Safra Asset Management Corp purchased a new position in shares of Phillips 66 in the 4th quarter valued at about $25,000. Pacific Center for Financial Services acquired a new stake in shares of Phillips 66 during the 4th quarter worth about $27,000. Stephens Consulting LLC lifted its stake in Phillips 66 by 83.5% during the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 111 shares during the last quarter. Finally, Graney & King LLC acquired a new position in Phillips 66 in the fourth quarter valued at approximately $28,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Robert W. Pease acquired 439 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were purchased at an average cost of $113.85 per share, with a total value of $49,980.15. Following the purchase, the director now owns 4,091 shares in the company, valued at approximately $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.22% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Tudor Pickering downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Wells Fargo & Company reduced their price target on shares of Phillips 66 from $162.00 to $149.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. JPMorgan Chase & Co. dropped their price objective on Phillips 66 from $138.00 to $131.00 and set an "overweight" rating on the stock in a report on Tuesday, April 29th. TD Cowen boosted their target price on Phillips 66 from $114.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Finally, The Goldman Sachs Group downgraded Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price target on the stock. in a research note on Thursday, March 27th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Phillips 66 currently has a consensus rating of "Moderate Buy" and an average target price of $135.62.

Phillips 66 Price Performance

PSX stock traded down $3.51 during trading on Wednesday, reaching $112.46. 3,686,128 shares of the company were exchanged, compared to its average volume of 3,014,591. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock's 50 day moving average price is $108.84 and its 200 day moving average price is $118.30. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $150.12. The company has a market cap of $45.82 billion, a P/E ratio of 22.77, a PEG ratio of 4.84 and a beta of 1.01.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The firm had revenue of $31.92 billion for the quarter, compared to analysts' expectations of $31.93 billion. During the same period last year, the firm earned $1.90 EPS. As a group, analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a $1.20 dividend. The ex-dividend date was Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.27%. This is a boost from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend payout ratio (DPR) is currently 109.34%.

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.