Bremer Bank National Association Has $5.01 Million Stock Position in Phillips 66 (NYSE:PSX)

Bremer Bank National Association boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 9.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,553 shares of the oil and gas company’s stock after buying an additional 3,588 shares during the period. Bremer Bank National Association’s holdings in Phillips 66 were worth $5,007,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares 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 buying an additional 120 shares during the period. J.Safra Asset Management Corp acquired a new position in Phillips 66 during the fourth quarter valued at $25,000. Pacific Center for Financial Services acquired a new position in Phillips 66 during the fourth quarter valued at $27,000. Stephens Consulting LLC raised its position in Phillips 66 by 83.5% during the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 111 shares during the period. Finally, Graney & King LLC acquired a new position in Phillips 66 during the fourth quarter valued at $28,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Phillips 66

In other Phillips 66 news, Director Robert W. Pease bought 439 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The stock was purchased at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the purchase, the director now directly owns 4,091 shares in the company, valued at $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PSX has been the topic of several research reports. 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. Wall Street Zen raised Phillips 66 from a “sell” rating to a “hold” rating in a research report on Monday, April 28th. Mizuho upped their target price on Phillips 66 from $132.00 to $138.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. The Goldman Sachs Group lowered Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price on the stock. in a research report on Thursday, March 27th. Finally, Morgan Stanley dropped their target price on Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.62.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $114.26 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The firm has a market cap of $46.56 billion, a price-to-earnings ratio of 23.13, a P/E/G ratio of 4.84 and a beta of 1.01. The business’s 50-day simple moving average is $109.02 and its 200-day simple moving average is $118.32. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The company had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the company posted $1.90 EPS. As a group, equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a dividend of $1.20 per share. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Monday, May 19th. This represents a $4.80 annualized dividend and a yield of 4.20%. Phillips 66’s dividend payout ratio is presently 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.