US Bancorp DE Decreases Stock Holdings in Phillips 66 (NYSE:PSX)

US Bancorp DE lessened its holdings in Phillips 66 (NYSE:PSX) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 253,901 shares of the oil and gas company’s stock after selling 3,214 shares during the period. US Bancorp DE’s holdings in Phillips 66 were worth $33,376,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PSX. Mitchell & Pahl Private Wealth LLC increased its holdings in Phillips 66 by 0.4% in the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock valued at $2,519,000 after purchasing an additional 74 shares in the last quarter. Catalyst Financial Partners LLC boosted its position in shares of Phillips 66 by 5.1% in the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock worth $214,000 after buying an additional 74 shares during the period. Advisory Alpha LLC grew its stake in shares of Phillips 66 by 4.8% in the second quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock valued at $233,000 after buying an additional 76 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its holdings in shares of Phillips 66 by 1.8% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,363 shares of the oil and gas company’s stock valued at $616,000 after buying an additional 77 shares during the period. Finally, Atomi Financial Group Inc. lifted its position in Phillips 66 by 1.5% during the 1st quarter. Atomi Financial Group Inc. now owns 5,452 shares of the oil and gas company’s stock worth $890,000 after acquiring an additional 80 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 1.5 %

NYSE:PSX opened at $120.01 on Friday. The company has a market cap of $49.56 billion, a PE ratio of 15.41, a P/E/G ratio of 3.94 and a beta of 1.33. The business’s 50 day moving average is $131.27 and its two-hundred day moving average is $137.81. The company has a quick ratio of 0.79, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 52 week low of $110.54 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same period last year, the business posted $4.63 earnings per share. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, analysts predict that Phillips 66 will post 7.75 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Barclays lowered their price objective on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 8th. TD Cowen dropped their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Wolfe Research assumed coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Wells Fargo & Company dropped their target price on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Finally, Scotiabank cut their price target on 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. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $151.42.

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.