Bremer Bank National Association Has $4.21 Million Stake in Phillips 66 (NYSE:PSX)

Bremer Bank National Association raised its stake in shares of Phillips 66 (NYSE:PSX) by 50.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 36,965 shares of the oil and gas company’s stock after purchasing an additional 12,326 shares during the quarter. Bremer Bank National Association’s holdings in Phillips 66 were worth $4,211,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. nVerses Capital LLC bought a new position in shares of Phillips 66 during the 3rd quarter worth about $26,000. Values First Advisors Inc. bought a new position in shares of Phillips 66 during the 3rd quarter worth about $30,000. Point72 Hong Kong Ltd bought a new position in shares of Phillips 66 during the 3rd quarter worth about $40,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Phillips 66 during the 2nd quarter worth about $51,000. Finally, Hoese & Co LLP increased its holdings in shares of Phillips 66 by 33.1% during the 3rd quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock worth $53,000 after purchasing an additional 100 shares during the period. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the topic of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Barclays lowered their target price on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Scotiabank lowered their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Mizuho lowered their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Finally, Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $147.93.

Phillips 66 Price Performance

Shares of PSX stock opened at $120.64 on Monday. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The firm’s 50 day moving average is $122.47 and its 200-day moving average is $129.66. The firm has a market capitalization of $49.82 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 3.17 and a beta of 1.38. 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 earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same period in the prior year, the business earned $4.63 earnings per share. Phillips 66’s quarterly revenue was down 10.3% on a year-over-year basis. Sell-side analysts forecast that Phillips 66 will post 7.22 EPS for the current fiscal year.

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.