Phillips 66 (NYSE:PSX) Stock Position Reduced by First American Bank

First American Bank reduced its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 8.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,354 shares of the oil and gas company's stock after selling 2,667 shares during the quarter. First American Bank's holdings in Phillips 66 were worth $3,458,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PSX. Altrius Capital Management Inc increased its holdings in shares of Phillips 66 by 5.8% in the 4th quarter. Altrius Capital Management Inc now owns 34,446 shares of the oil and gas company's stock worth $3,925,000 after acquiring an additional 1,881 shares during the period. Private Capital Management LLC increased its stake in shares of Phillips 66 by 14.7% in the third quarter. Private Capital Management LLC now owns 8,794 shares of the oil and gas company's stock valued at $1,156,000 after purchasing an additional 1,130 shares during the period. Argyle Capital Management LLC raised its holdings in shares of Phillips 66 by 6.1% during the fourth quarter. Argyle Capital Management LLC now owns 19,937 shares of the oil and gas company's stock valued at $2,271,000 after buying an additional 1,151 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Phillips 66 by 4.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,384 shares of the oil and gas company's stock worth $272,000 after buying an additional 103 shares during the period. Finally, Fort Sheridan Advisors LLC grew its holdings in Phillips 66 by 3.7% in the 4th quarter. Fort Sheridan Advisors LLC now owns 2,983 shares of the oil and gas company's stock worth $340,000 after buying an additional 107 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of analyst reports. Barclays reduced their price target on Phillips 66 from $124.00 to $115.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. Piper Sandler downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Friday, January 10th. StockNews.com cut shares of Phillips 66 from a "hold" rating to a "sell" rating in a research note on Sunday. Wolfe Research raised shares of Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price target for the company in a research note on Friday, January 3rd. Finally, UBS Group lowered their price objective 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $148.00.

Phillips 66 Trading Down 3.6 %

Shares of NYSE PSX traded down $4.66 during mid-day trading on Monday, hitting $125.03. 6,054,940 shares of the company traded hands, compared to its average volume of 3,714,182. The business has a 50 day moving average of $120.89 and a two-hundred day moving average of $126.63. The stock has a market capitalization of $50.97 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 4.84 and a beta of 1.37. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter last year, the firm earned $3.09 earnings per share. On average, sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.68%. The ex-dividend date is Monday, February 24th. Phillips 66's payout ratio is 93.12%.

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.