Commerce Bank Has $4.01 Million Stake in Phillips 66 (NYSE:PSX)

Commerce Bank cut its stake in Phillips 66 (NYSE:PSX) by 16.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,822 shares of the oil and gas company’s stock after selling 15,028 shares during the period. Commerce Bank’s holdings in Phillips 66 were worth $4,014,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Baird Financial Group Inc. raised its stake in shares of Phillips 66 by 1.4% in the fourth quarter. Baird Financial Group Inc. now owns 113,434 shares of the oil and gas company’s stock worth $12,637,000 after acquiring an additional 1,531 shares during the last quarter. Raymond James & Associates grew its position in shares of Phillips 66 by 5.9% during the 4th quarter. Raymond James & Associates now owns 614,876 shares of the oil and gas company’s stock worth $68,504,000 after buying an additional 34,478 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Phillips 66 by 2.1% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 105,844 shares of the oil and gas company’s stock worth $11,792,000 after buying an additional 2,157 shares during the period. CWS Financial Advisors LLC acquired a new stake in shares of Phillips 66 during the 4th quarter worth approximately $265,000. Finally, NuWave Investment Management LLC grew its position in shares of Phillips 66 by 815.7% during the 4th quarter. NuWave Investment Management LLC now owns 11,639 shares of the oil and gas company’s stock worth $1,296,000 after buying an additional 10,368 shares during the period. 69.03% of the stock is owned by institutional investors.

Several equities research analysts have recently commented on the stock. Wells Fargo & Co lowered their price target on shares of Phillips 66 from $130.00 to $78.00 and set an “overweight” rating for the company in a research report on Friday, March 13th. Credit Suisse Group lifted their price target on shares of Phillips 66 from $72.00 to $82.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Cowen decreased their price objective on shares of Phillips 66 from $127.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Jefferies Financial Group upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and decreased their price objective for the company from $110.00 to $73.00 in a report on Thursday, March 26th. Finally, Cfra decreased their price objective on shares of Phillips 66 from $110.00 to $49.00 and set a “buy” rating for the company in a report on Friday, March 20th. Two analysts have rated the stock with a sell rating and seventeen have assigned a buy rating to the company’s stock. Phillips 66 has an average rating of “Buy” and a consensus target price of $89.00.

In other Phillips 66 news, Director Gary Kramer Adams acquired 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was acquired at an average price of $76.40 per share, for a total transaction of $95,500.00. Following the acquisition, the director now directly owns 10,213 shares in the company, valued at $780,273.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John E. Lowe acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was acquired at an average price of $74.93 per share, with a total value of $74,930.00. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 4,250 shares of company stock valued at $323,850. 0.63% of the stock is owned by company insiders.

PSX stock opened at $76.46 on Friday. The stock has a market capitalization of $33.66 billion, a P/E ratio of 112.44, a price-to-earnings-growth ratio of 6.26 and a beta of 1.59. The company has a current ratio of 1.11, a quick ratio of 0.61 and a debt-to-equity ratio of 0.45. Phillips 66 has a 12 month low of $40.04 and a 12 month high of $119.92. The firm has a 50-day moving average price of $64.94 and a 200-day moving average price of $88.00.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.39. The firm had revenue of $21.24 billion during the quarter, compared to analysts’ expectations of $22.04 billion. Phillips 66 had a net margin of 0.35% and a return on equity of 14.90%. During the same quarter in the prior year, the business earned $0.40 earnings per share. As a group, equities analysts predict that Phillips 66 will post 2.32 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.60 dividend on an annualized basis and a yield of 4.71%. Phillips 66’s dividend payout ratio (DPR) is presently 44.72%.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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