Bell Bank Boosts Stock Position in Phillips 66 (NYSE:PSX)

Bell Bank raised its stake in shares of Phillips 66 (NYSE:PSX) by 11.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,644 shares of the oil and gas company’s stock after buying an additional 272 shares during the quarter. Bell Bank’s holdings in Phillips 66 were worth $301,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Mizuho Securities USA LLC raised its position in shares of Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after purchasing an additional 2,467,316 shares during the last quarter. ING Groep NV raised its holdings in Phillips 66 by 123.2% in the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after buying an additional 653,032 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Phillips 66 by 63.4% in the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after buying an additional 633,970 shares in the last quarter. Mizuho Markets Americas LLC purchased a new stake in shares of Phillips 66 during the third quarter valued at approximately $70,983,000. Finally, Weiss Asset Management LP bought a new stake in shares of Phillips 66 during the third quarter valued at approximately $34,042,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the topic of several analyst reports. UBS Group lowered their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company increased their price objective on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Mizuho reduced their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Finally, StockNews.com upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a research report on Saturday. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Trading Down 2.1 %

Shares of NYSE:PSX opened at $128.78 on Friday. The stock has a 50 day moving average of $119.17 and a 200 day moving average of $127.11. The company has a market cap of $53.18 billion, a PE ratio of 26.07, a price-to-earnings-growth ratio of 4.84 and a beta of 1.37. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the company earned $3.09 EPS. As a group, equities research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is 93.12%.

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.