TIAA Trust National Association Acquires 3,670 Shares of Phillips 66 (NYSE:PSX)

TIAA Trust National Association boosted its position in shares of Phillips 66 (NYSE:PSXFree Report) by 32.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 14,816 shares of the oil and gas company’s stock after acquiring an additional 3,670 shares during the quarter. TIAA Trust National Association’s holdings in Phillips 66 were worth $1,973,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSX. First Capital Advisors Group LLC. bought a new stake in Phillips 66 during the 2nd quarter worth approximately $25,000. Cornerstone Planning Group LLC raised its stake in Phillips 66 by 134.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 151 shares during the period. Worth Asset Management LLC bought a new stake in Phillips 66 during the 1st quarter worth approximately $32,000. Bruce G. Allen Investments LLC bought a new stake in Phillips 66 during the 4th quarter worth approximately $36,000. Finally, Bell Investment Advisors Inc raised its stake in Phillips 66 by 82.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 138 shares during the period. Institutional investors own 76.93% of the company’s stock.

Insiders Place Their Bets

In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $3,648,120.07. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the sale, the vice president now owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The disclosure for this sale can be found here. Insiders sold 35,056 shares of company stock valued at $5,272,681 over the last three months. 4.57% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their target price on shares of Phillips 66 from $163.00 to $179.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Citigroup assumed coverage on shares of Phillips 66 in a report on Wednesday, January 24th. They set a “buy” rating for the company. Barclays increased their price objective on shares of Phillips 66 from $132.00 to $139.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. Raymond James increased their price objective on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Finally, Bank of America increased their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $152.31.

Get Our Latest Report on PSX

Phillips 66 Trading Up 1.9 %

PSX stock opened at $172.75 on Thursday. The firm has a fifty day moving average price of $149.11 and a 200 day moving average price of $131.58. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $173.55. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. The firm has a market cap of $73.91 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 2.20 and a beta of 1.37.

Phillips 66 (NYSE:PSXGet Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.37 by $0.72. The company had revenue of $38.74 billion during the quarter, compared to analyst estimates of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. Sell-side analysts anticipate that Phillips 66 will post 12.85 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.66%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is presently 27.15%.

Phillips 66 Profile

(Free Report)

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.

Further Reading

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

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