UMB Bank n.a. trimmed its holdings in shares of Phillips 66 (NYSE:PSX – Get Rating) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,950 shares of the oil and gas company’s stock after selling 1,088 shares during the quarter. UMB Bank n.a.’s holdings in Phillips 66 were worth $4,470,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in PSX. Regal Investment Advisors LLC bought a new stake in shares of Phillips 66 in the 3rd quarter valued at $310,000. PFG Advisors boosted its stake in Phillips 66 by 42.4% during the third quarter. PFG Advisors now owns 5,243 shares of the oil and gas company’s stock worth $423,000 after acquiring an additional 1,560 shares in the last quarter. Cibc World Market Inc. boosted its stake in Phillips 66 by 489.5% during the second quarter. Cibc World Market Inc. now owns 42,656 shares of the oil and gas company’s stock worth $3,497,000 after acquiring an additional 35,420 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Phillips 66 by 2.4% during the third quarter. Neuberger Berman Group LLC now owns 1,098,922 shares of the oil and gas company’s stock worth $88,704,000 after acquiring an additional 25,603 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Phillips 66 by 1,218.7% during the third quarter. International Assets Investment Management LLC now owns 40,589 shares of the oil and gas company’s stock worth $245,000 after acquiring an additional 37,511 shares in the last quarter. 70.76% of the stock is owned by institutional investors.
Phillips 66 Stock Performance
Shares of PSX stock opened at $94.72 on Friday. Phillips 66 has a one year low of $74.02 and a one year high of $113.53. The firm has a 50-day moving average of $102.53 and a 200-day moving average of $99.39. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.38 and a quick ratio of 1.17. The company has a market cap of $43.94 billion, a P/E ratio of 4.13, a P/E/G ratio of 0.33 and a beta of 1.37.
Phillips 66 Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Tuesday, February 21st were issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date was Friday, February 17th. This is an increase from Phillips 66’s previous quarterly dividend of $0.97. Phillips 66’s dividend payout ratio (DPR) is 18.30%.
Wall Street Analyst Weigh In
PSX has been the topic of several research analyst reports. StockNews.com initiated coverage on shares of Phillips 66 in a research note on Thursday. They set a “buy” rating on the stock. UBS Group started coverage on shares of Phillips 66 in a research note on Wednesday, March 8th. They set a “buy” rating and a $139.00 target price on the stock. Piper Sandler lowered their price objective on shares of Phillips 66 from $155.00 to $137.00 and set an “overweight” rating on the stock in a report on Monday, December 19th. Morgan Stanley upped their price objective on shares of Phillips 66 from $115.00 to $125.00 and gave the stock an “equal weight” rating in a report on Friday, January 20th. Finally, Wells Fargo & Company lowered their price objective on shares of Phillips 66 from $134.00 to $127.00 and set an “overweight” rating on the stock in a report on Thursday, January 5th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $121.27.
Insider Buying and Selling
In related news, Director Gregory Hayes acquired 10,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 2nd. The stock was acquired at an average price of $97.75 per share, for a total transaction of $1,001,937.50. Following the completion of the acquisition, the director now owns 14,299 shares of the company’s stock, valued at approximately $1,397,727.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.74% of the stock is currently owned by corporate insiders.
Phillips 66 Company Profile
Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.
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