TIAA Trust National Association Increases Stock Position in Phillips 66 (NYSE:PSX)

TIAA Trust National Association grew its position in Phillips 66 (NYSE:PSXFree Report) by 32.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,816 shares of the oil and gas company’s stock after purchasing an additional 3,670 shares during the period. TIAA Trust National Association’s holdings in Phillips 66 were worth $1,973,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PSX. Moneta Group Investment Advisors LLC raised its holdings in shares of Phillips 66 by 100,843.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,979,304 shares of the oil and gas company’s stock valued at $1,038,646,000 after purchasing an additional 9,969,418 shares during the last quarter. Barclays PLC raised its holdings in shares of Phillips 66 by 416.9% in the second quarter. Barclays PLC now owns 7,451,470 shares of the oil and gas company’s stock valued at $710,721,000 after purchasing an additional 6,009,826 shares during the last quarter. Norges Bank purchased a new stake in shares of Phillips 66 in the fourth quarter valued at about $364,237,000. Wellington Management Group LLP raised its holdings in shares of Phillips 66 by 62.1% in the first quarter. Wellington Management Group LLP now owns 7,188,087 shares of the oil and gas company’s stock valued at $620,979,000 after purchasing an additional 2,753,700 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of Phillips 66 by 16.2% in the fourth quarter. Morgan Stanley now owns 6,961,625 shares of the oil and gas company’s stock valued at $724,566,000 after purchasing an additional 968,055 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $172.75 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $73.91 billion, a PE ratio of 11.17, a P/E/G ratio of 2.20 and a beta of 1.37. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $173.55. The company has a 50-day moving average price of $149.11 and a two-hundred day moving average price of $131.58.

Phillips 66 (NYSE:PSXGet Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.37 by $0.72. The company had revenue of $38.74 billion during the quarter, compared to analysts’ expectations of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. Equities analysts forecast that Phillips 66 will post 12.85 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.66%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is currently 27.15%.

Insider Activity at Phillips 66

In other news, Director Robert W. Pease acquired 682 shares of Phillips 66 stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the purchase, the director now owns 1,900 shares in the company, valued at $278,502. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert W. Pease purchased 682 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was bought at an average cost of $146.58 per share, with a total value of $99,967.56. Following the purchase, the director now owns 1,900 shares in the company, valued at $278,502. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 35,056 shares of company stock valued at $5,272,681. Corporate insiders own 4.57% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Raymond James raised their price objective on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Mizuho raised their price objective on shares of Phillips 66 from $135.00 to $167.00 and gave the stock a “neutral” rating in a report on Friday, March 22nd. Citigroup assumed coverage on shares of Phillips 66 in a report on Wednesday, January 24th. They set a “buy” rating for the company. StockNews.com upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Saturday, February 10th. Finally, Bank of America raised their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $152.31.

Check Out Our Latest Report on Phillips 66

Phillips 66 Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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