Bell Bank Sells 353 Shares of Phillips 66 (NYSE:PSX)

Bell Bank decreased its position in shares of Phillips 66 (NYSE:PSX) by 13.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,372 shares of the oil and gas company’s stock after selling 353 shares during the quarter. Bell Bank’s holdings in Phillips 66 were worth $312,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Crewe Advisors LLC bought a new position in shares of Phillips 66 in the first quarter valued at $25,000. nVerses Capital LLC purchased a new position in shares of Phillips 66 in the 3rd quarter worth about $26,000. Bank & Trust Co purchased a new position in shares of Phillips 66 in the second quarter worth about $31,000. Values First Advisors Inc. purchased a new stake in shares of Phillips 66 during the third quarter worth $30,000. Finally, Opal Wealth Advisors LLC bought a new position in Phillips 66 in the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PSX shares. Bank of America assumed coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective for the company. Barclays reduced their price objective on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday. Mizuho dropped their price target on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. UBS Group decreased their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Wolfe Research initiated coverage on Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $129.92 on Thursday. The stock’s 50-day simple moving average is $129.73 and its 200-day simple moving average is $136.04. The firm has a market capitalization of $53.66 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 4.18 and a beta of 1.33. Phillips 66 has a fifty-two week low of $111.90 and a fifty-two week high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter last year, the business posted $4.63 earnings per share. Phillips 66’s revenue was down 10.3% compared to the same quarter last year. As a group, equities research analysts forecast that Phillips 66 will post 7.63 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.54%. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

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.