Bell Bank Buys 272 Shares of Phillips 66 (NYSE:PSX)

Bell Bank raised its stake in shares of Phillips 66 (NYSE:PSX) by 11.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,644 shares of the oil and gas company’s stock after purchasing an additional 272 shares during the period. Bell Bank’s holdings in Phillips 66 were worth $301,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Webster Bank N. A. boosted its stake in Phillips 66 by 48.4% during the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 88 shares during the last quarter. Cobblestone Capital Advisors LLC NY grew its holdings in shares of Phillips 66 by 0.5% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock valued at $2,307,000 after purchasing an additional 89 shares in the last quarter. Avestar Capital LLC increased its position in Phillips 66 by 5.1% in the third quarter. Avestar Capital LLC now owns 1,885 shares of the oil and gas company’s stock worth $248,000 after purchasing an additional 92 shares during the last quarter. Pinnacle Bancorp Inc. raised its stake in Phillips 66 by 3.9% during the fourth quarter. Pinnacle Bancorp Inc. now owns 2,535 shares of the oil and gas company’s stock valued at $289,000 after purchasing an additional 95 shares in the last quarter. Finally, Everpar Advisors LLC lifted its position in Phillips 66 by 2.5% during the fourth quarter. Everpar Advisors LLC now owns 4,005 shares of the oil and gas company’s stock valued at $456,000 after purchasing an additional 96 shares during the last quarter. 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 recent research reports. UBS Group decreased their target price on shares of 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 raised their price objective on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research report on Friday, January 3rd. Mizuho lowered their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Finally, Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Stock Performance

Phillips 66 stock opened at $128.78 on Friday. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. The company has a market capitalization of $53.18 billion, a PE ratio of 26.07, a P/E/G ratio of 4.84 and a beta of 1.37. The company has a 50 day moving average price of $119.17 and a 200-day moving average price of $127.11. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the business earned $3.09 EPS. As a group, equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm 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 3.57%. The ex-dividend date is Monday, February 24th. Phillips 66’s payout ratio 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.