First American Bank Has $3.46 Million Stake in Phillips 66 (NYSE:PSX)

First American Bank lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 8.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,354 shares of the oil and gas company’s stock after selling 2,667 shares during the period. First American Bank’s holdings in Phillips 66 were worth $3,458,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp increased its stake in Phillips 66 by 263.3% during the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after acquiring an additional 60,355 shares during the period. Flavin Financial Services Inc. acquired a new stake in shares of Phillips 66 during the 4th quarter worth $1,190,000. Everence Capital Management Inc. bought a new position in shares of Phillips 66 in the fourth quarter worth $3,033,000. Donoghue Forlines LLC acquired a new position in Phillips 66 in the fourth quarter valued at about $1,438,000. Finally, Mizuho Securities USA LLC lifted its position in Phillips 66 by 7,549.0% during the third 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 period. 76.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PSX has been the subject of several analyst reports. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research report on Friday, January 3rd. Mizuho cut their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. UBS Group lowered their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, Wells Fargo & Company upped their price objective on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Stock Performance

Phillips 66 stock opened at $127.39 on Friday. The business has a 50 day moving average of $120.21 and a 200-day moving average of $126.90. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The company has a market capitalization of $51.94 billion, a P/E ratio of 25.79, a P/E/G ratio of 4.84 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (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 posted $3.09 EPS. On average, equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.61%. The ex-dividend date is Monday, February 24th. Phillips 66’s payout ratio is presently 93.12%.

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.