Phillips 66 (NYSE:PSX) Shares Bought by Umpqua Bank

Umpqua Bank boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,609 shares of the oil and gas company’s stock after purchasing an additional 613 shares during the period. Umpqua Bank’s holdings in Phillips 66 were worth $1,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSX. Quest Partners LLC lifted its position in Phillips 66 by 324,800.0% during the third quarter. Quest Partners LLC now owns 3,249 shares of the oil and gas company’s stock valued at $427,000 after purchasing an additional 3,248 shares during the period. Commerce Bank raised its position in shares of Phillips 66 by 1.6% in the third quarter. Commerce Bank now owns 55,553 shares of the oil and gas company’s stock worth $7,302,000 after acquiring an additional 874 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Phillips 66 by 113.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,703 shares of the oil and gas company’s stock worth $750,000 after acquiring an additional 3,030 shares during the period. Ontario Teachers Pension Plan Board acquired a new position in shares of Phillips 66 in the third quarter worth about $489,000. Finally, Citizens Financial Group Inc. RI raised its position in shares of Phillips 66 by 59.8% in the third quarter. Citizens Financial Group Inc. RI now owns 5,898 shares of the oil and gas company’s stock worth $775,000 after acquiring an additional 2,206 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on PSX shares. Wells Fargo & Company upped their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Wolfe Research raised 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 note on Friday, January 3rd. Barclays boosted their target price on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Finally, Mizuho cut their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $149.43.

Phillips 66 Stock Performance

Phillips 66 stock opened at $125.51 on Friday. The firm has a 50 day simple moving average of $124.11 and a 200-day simple moving average of $125.71. Phillips 66 has a 1-year low of $108.91 and a 1-year high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The stock has a market cap of $51.17 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31.

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

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a $1.15 dividend. The ex-dividend date was Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 3.67%. Phillips 66’s dividend payout ratio is currently 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.