PNC Financial Services Group Inc. Has $111.11 Million Stock Position in Phillips 66 (NYSE:PSX)

PNC Financial Services Group Inc. increased its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 6.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 834,504 shares of the oil and gas company's stock after acquiring an additional 47,249 shares during the period. PNC Financial Services Group Inc. owned about 0.19% of Phillips 66 worth $111,106,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. First United Bank & Trust acquired a new stake in Phillips 66 in the 4th quarter valued at about $31,000. Cornerstone Planning Group LLC raised its position in shares of Phillips 66 by 134.8% in the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company's stock valued at $32,000 after purchasing an additional 151 shares during the period. Signature Resources Capital Management LLC bought a new stake in shares of Phillips 66 during the 4th quarter worth about $33,000. Bruce G. Allen Investments LLC bought a new stake in shares of Phillips 66 during the fourth quarter worth approximately $36,000. Finally, Gladius Capital Management LP acquired a new position in Phillips 66 in the 4th quarter valued at $36,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Phillips 66

In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the firm's stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the transaction, the vice president now owns 6,583 shares in the company, valued at approximately $1,036,164.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Price Performance

Shares of PSX stock traded up $2.36 on Friday, reaching $147.08. The company had a trading volume of 1,886,265 shares, compared to its average volume of 2,330,234. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $62.35 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 1.98 and a beta of 1.41. The business's 50-day moving average is $155.59 and its 200 day moving average is $140.68.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same period last year, the company earned $4.21 EPS. Equities research analysts forecast that Phillips 66 will post 12.38 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a dividend of $1.15 per share. The ex-dividend date is Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 3.13%. This is a positive change from Phillips 66's previous quarterly dividend of $1.05. Phillips 66's dividend payout ratio is presently 32.31%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Bank of America boosted their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the company a "neutral" rating in a research report on Friday, March 15th. JPMorgan Chase & Co. increased their target price on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an "overweight" rating in a research report on Monday, April 1st. Wells Fargo & Company raised their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an "overweight" rating in a report on Monday, April 8th. StockNews.com cut Phillips 66 from a "buy" rating to a "hold" rating in a research note on Monday, May 6th. Finally, Barclays lowered their price objective on Phillips 66 from $155.00 to $147.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, Phillips 66 presently has an average rating of "Moderate Buy" and a consensus target price of $156.21.

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.

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