Parkside Financial Bank & Trust Increases Stock Holdings in Phillips 66 (NYSE:PSX)

Parkside Financial Bank & Trust lifted its stake in Phillips 66 (NYSE:PSX) by 70.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,202 shares of the oil and gas company’s stock after purchasing an additional 1,323 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Phillips 66 were worth $426,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Barclays PLC boosted its holdings in shares of Phillips 66 by 4.2% in the 3rd quarter. Barclays PLC now owns 7,760,709 shares of the oil and gas company’s stock worth $932,447,000 after purchasing an additional 309,239 shares during the period. Morgan Stanley boosted its holdings in Phillips 66 by 2.1% during the 3rd quarter. Morgan Stanley now owns 6,768,960 shares of the oil and gas company’s stock valued at $813,291,000 after acquiring an additional 138,646 shares during the period. Northern Trust Corp boosted its holdings in Phillips 66 by 6.2% during the 3rd quarter. Northern Trust Corp now owns 4,881,094 shares of the oil and gas company’s stock valued at $586,463,000 after acquiring an additional 283,010 shares during the period. Bank of New York Mellon Corp boosted its holdings in Phillips 66 by 12.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,570,590 shares of the oil and gas company’s stock valued at $549,156,000 after acquiring an additional 502,785 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in Phillips 66 by 21.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,946,809 shares of the oil and gas company’s stock valued at $233,909,000 after acquiring an additional 350,211 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of recent analyst reports. StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. JPMorgan Chase & Co. boosted their price objective on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a report on Monday, April 1st. The Goldman Sachs Group boosted their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Citigroup started coverage on Phillips 66 in a research report on Wednesday, January 24th. They set a “buy” rating for the company. Finally, Bank of America lifted their target price on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $158.00.

Insider Buying and Selling at Phillips 66

In other news, Director Robert W. Pease purchased 682 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were acquired at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the purchase, the director now owns 1,900 shares in the company, valued at $278,502. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Robert W. Pease bought 682 shares of the stock in a transaction dated Thursday, February 15th. The shares were purchased at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the purchase, the director now directly owns 1,900 shares of the company’s stock, valued at $278,502. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the sale, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is currently owned by insiders.

Phillips 66 Stock Up 1.0 %

NYSE:PSX traded up $1.51 during mid-day trading on Tuesday, hitting $158.56. 1,041,493 shares of the company’s stock traded hands, compared to its average volume of 2,968,395. The company has a fifty day moving average of $154.65 and a 200 day moving average of $135.96. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08. The company has a market capitalization of $67.84 billion, a P/E ratio of 10.15, a P/E/G ratio of 1.92 and a beta of 1.37. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.72. The company had revenue of $38.74 billion for the quarter, compared to analyst estimates of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. On average, analysts forecast that Phillips 66 will post 13.45 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently declared 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 2.90%. The ex-dividend date of this dividend is Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is presently 27.15%.

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.