Phillips 66 (NYSE:PSX) Shares Bought by MidWestOne Financial Group Inc.

MidWestOne Financial Group Inc. raised its stake in shares of Phillips 66 (NYSE:PSX) by 8.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,892 shares of the oil and gas company’s stock after acquiring an additional 154 shares during the period. MidWestOne Financial Group Inc.’s holdings in Phillips 66 were worth $216,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of PSX. Bogart Wealth LLC raised its position in Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 120 shares in the last quarter. J.Safra Asset Management Corp acquired a new stake in shares of Phillips 66 during the 4th quarter worth approximately $25,000. Stephens Consulting LLC increased its holdings in shares of Phillips 66 by 83.5% during the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 111 shares in the last quarter. Graney & King LLC purchased a new position in shares of Phillips 66 during the 4th quarter valued at approximately $28,000. Finally, Human Investing LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at $30,000. 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 analyst reports. Barclays raised their price target on shares of Phillips 66 from $106.00 to $115.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th. TD Cowen increased their target price on shares of Phillips 66 from $114.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Scotiabank dropped their target price on Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company cut their price target on Phillips 66 from $162.00 to $149.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Finally, Morgan Stanley reduced their price target on Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus target price of $137.86.

Phillips 66 Trading Down 7.5%

Shares of Phillips 66 stock opened at $111.84 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $150.12. The firm has a market capitalization of $45.57 billion, a PE ratio of 22.64, a P/E/G ratio of 4.84 and a beta of 1.01. The firm’s 50-day moving average price is $111.23 and its 200 day moving average price is $119.18.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. The firm had revenue of $31.92 billion during the quarter, compared to analysts’ expectations of $31.93 billion. During the same quarter last year, the business earned $1.90 EPS. On average, sell-side analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 4.29%. The ex-dividend date is Monday, May 19th. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s payout ratio is 109.34%.

About Phillips 66

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.