Bremer Bank National Association Boosts Stock Position in Phillips 66 (NYSE:PSX)

Bremer Bank National Association boosted its position in Phillips 66 (NYSE:PSX - Free Report) by 50.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 36,965 shares of the oil and gas company's stock after purchasing an additional 12,326 shares during the period. Bremer Bank National Association's holdings in Phillips 66 were worth $4,211,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PSX. Legal & General Group Plc boosted its holdings in shares of Phillips 66 by 0.5% in the 2nd quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company's stock worth $522,240,000 after buying an additional 18,238 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Phillips 66 by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company's stock worth $381,453,000 after acquiring an additional 16,941 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Phillips 66 by 2.9% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company's stock valued at $397,193,000 after acquiring an additional 79,301 shares during the last quarter. Mizuho Securities USA LLC grew its position in shares of Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company's stock valued at $328,625,000 after acquiring an additional 2,467,316 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of Phillips 66 by 63.4% during the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company's stock worth $214,120,000 after purchasing an additional 633,970 shares during the last quarter. Institutional investors own 76.93% of the company's stock.

Analyst Ratings Changes

PSX has been the topic of several research analyst reports. Wolfe Research upgraded Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. Barclays cut their price target on Phillips 66 from $124.00 to $115.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. Mizuho lowered their price objective on Phillips 66 from $150.00 to $147.00 and set a "neutral" rating on the stock in a research note on Monday, December 16th. Bank of America initiated coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They set a "buy" rating and a $156.00 target price for the company. Finally, Piper Sandler lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of "Moderate Buy" and a consensus price target of $147.93.

Phillips 66 Price Performance

Shares of PSX stock traded up $1.01 on Monday, reaching $120.64. The company's stock had a trading volume of 2,722,245 shares, compared to its average volume of 2,658,786. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The stock's 50 day simple moving average is $122.47 and its 200-day simple moving average is $129.59. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $49.82 billion, a P/E ratio of 15.49, a PEG ratio of 3.17 and a beta of 1.38.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company's revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter last year, the company posted $4.63 EPS. As a group, equities analysts predict that Phillips 66 will post 7.22 earnings per share for the current fiscal year.

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.