Bremer Bank National Association Has $3.50 Million Stake in Phillips 66 (NYSE:PSX)

Bremer Bank National Association trimmed its stake in Phillips 66 (NYSE:PSX) by 2.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,812 shares of the oil and gas company’s stock after selling 654 shares during the period. Bremer Bank National Association’s holdings in Phillips 66 were worth $3,503,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Crewe Advisors LLC acquired a new stake in Phillips 66 in the 1st quarter worth $25,000. Keener Financial Planning LLC acquired a new stake in Phillips 66 in the 1st quarter worth $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Phillips 66 in the 4th quarter worth $27,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Phillips 66 during the 1st quarter valued at about $28,000. Finally, First United Bank & Trust acquired a new stake in shares of Phillips 66 during the 4th quarter valued at about $31,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of NYSE PSX traded up $3.04 during trading on Wednesday, reaching $137.70. The company had a trading volume of 2,134,376 shares, compared to its average volume of 2,660,125. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The stock has a market cap of $58.38 billion, a PE ratio of 10.62, a PEG ratio of 2.37 and a beta of 1.34. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The business’s 50 day moving average price is $138.15 and its 200-day moving average price is $146.04.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. During the same period in the previous year, the firm posted $3.87 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. Analysts expect that Phillips 66 will post 9.53 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Tuesday, August 20th. Phillips 66’s dividend payout ratio is presently 35.38%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. decreased their target price on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Wolfe Research assumed coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. TD Cowen lifted their target price on shares of Phillips 66 from $155.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Raymond James lifted their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $157.38.

Insiders Place Their Bets

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the transaction, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at $7,051,617. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.22% of the company’s stock.

Phillips 66 Company 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.