US Bancorp DE Sells 2,926 Shares of Phillips 66 (NYSE:PSX)

US Bancorp DE decreased its holdings in Phillips 66 (NYSE:PSX - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 250,975 shares of the oil and gas company's stock after selling 2,926 shares during the period. US Bancorp DE owned 0.06% of Phillips 66 worth $28,594,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its holdings in shares of Phillips 66 by 7.3% in the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company's stock valued at $1,064,601,000 after acquiring an additional 639,323 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Phillips 66 by 0.6% in the 3rd 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 purchasing an additional 16,941 shares during the period. Mizuho Securities USA LLC raised its position in Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company's stock worth $328,625,000 after purchasing an additional 2,467,316 shares during the period. Bank of Montreal Can raised its position in Phillips 66 by 63.4% in 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 period. Finally, ING Groep NV raised its position in Phillips 66 by 123.2% in the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company's stock worth $155,503,000 after purchasing an additional 653,032 shares during the period. Institutional investors own 76.93% of the company's stock.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Phillips 66 from a "hold" rating to a "sell" rating in a research report on Sunday. Piper Sandler lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. UBS Group reduced 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 report on Monday, November 4th. Mizuho reduced their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a "neutral" rating on the stock in a research report on Monday, December 16th. Finally, Barclays reduced their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $148.00.

Phillips 66 Stock Performance

Shares of PSX stock opened at $129.81 on Monday. The firm has a market cap of $52.92 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 4.84 and a beta of 1.37. The company's 50 day moving average is $120.60 and its 200 day moving average is $126.72. 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 has a 52-week low of $108.90 and a 52-week high of $174.08.

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

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.54%. The ex-dividend date is Monday, February 24th. Phillips 66's payout ratio is 93.12%.

Phillips 66 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.

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