US Bancorp DE Grows Stock Position in Phillips 66 (NYSE:PSX)

US Bancorp DE lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 0.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 263,400 shares of the oil and gas company’s stock after acquiring an additional 1,017 shares during the period. US Bancorp DE’s holdings in Phillips 66 were worth $35,070,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. DekaBank Deutsche Girozentrale raised its holdings in shares of Phillips 66 by 12.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after buying an additional 22,278 shares during the last quarter. Eldred Rock Partners LLC purchased a new stake in Phillips 66 during the 4th quarter valued at about $10,402,000. First Dallas Securities Inc. acquired a new position in shares of Phillips 66 in the third quarter valued at about $753,000. TIAA Trust National Association raised its stake in shares of Phillips 66 by 32.9% in the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after purchasing an additional 3,670 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Phillips 66 by 27.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock worth $6,470,000 after purchasing an additional 10,536 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the topic of several research reports. Mizuho cut their price target on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Raymond James raised their target price 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. Bank of America upped their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. The Goldman Sachs Group boosted their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $156.21.

Phillips 66 Price Performance

NYSE PSX traded up $0.49 on Friday, hitting $142.68. The company had a trading volume of 1,250,654 shares, compared to its average volume of 2,284,897. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. The company has a market capitalization of $60.49 billion, a PE ratio of 10.98, a PEG ratio of 1.93 and a beta of 1.41. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The company’s fifty day moving average price is $154.57 and its 200-day moving average price is $141.26.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same quarter last year, the company earned $4.21 EPS. As a group, analysts predict that Phillips 66 will post 12.26 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Insider Transactions at Phillips 66

In related news, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the sale, the executive vice president now directly owns 48,365 shares in the company, valued at $7,051,617. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the transaction, the vice president now owns 6,583 shares in the company, valued at $1,036,164.20. The disclosure for this sale can be found here. Insiders have sold 50,864 shares of company stock valued at $7,567,178 over the last ninety days. Insiders own 0.22% of the company’s stock.

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.