Umpqua Bank Increases Position in Phillips 66 (NYSE:PSX)

Umpqua Bank boosted its holdings in Phillips 66 (NYSE:PSX) by 5.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,925 shares of the oil and gas company’s stock after purchasing an additional 486 shares during the period. Umpqua Bank’s holdings in Phillips 66 were worth $1,401,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in shares of Phillips 66 in the 4th quarter worth about $1,910,000. Gryphon Financial Partners LLC raised its stake in Phillips 66 by 11.4% during the fourth quarter. Gryphon Financial Partners LLC now owns 4,166 shares of the oil and gas company’s stock valued at $546,000 after buying an additional 426 shares in the last quarter. Smithfield Trust Co lifted its holdings in Phillips 66 by 13.0% during the 4th quarter. Smithfield Trust Co now owns 1,437 shares of the oil and gas company’s stock worth $191,000 after buying an additional 165 shares during the last quarter. Kovitz Investment Group Partners LLC grew its position in shares of Phillips 66 by 119.9% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,090 shares of the oil and gas company’s stock worth $678,000 after acquiring an additional 2,775 shares in the last quarter. Finally, AGF Management Ltd. increased its holdings in shares of Phillips 66 by 328.4% in the 4th quarter. AGF Management Ltd. now owns 30,803 shares of the oil and gas company’s stock valued at $4,101,000 after acquiring an additional 23,612 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Argus reaffirmed a “buy” rating and issued a $167.00 price objective on shares of Phillips 66 in a report on Thursday, May 30th. Wolfe Research started coverage on shares of Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Mizuho dropped their price objective on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. JPMorgan Chase & Co. decreased their target price on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Finally, Scotiabank dropped their price target on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $157.85.

Insider Activity

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 0.6 %

Phillips 66 stock opened at $128.14 on Friday. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The stock has a market capitalization of $54.33 billion, a PE ratio of 9.86, a price-to-earnings-growth ratio of 2.53 and a beta of 1.33. The firm has a 50 day simple moving average of $137.16 and a 200-day simple moving average of $144.85.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The firm had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the company posted $3.87 EPS. As a group, equities research analysts expect that Phillips 66 will post 9.25 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date was Tuesday, August 20th. Phillips 66’s payout ratio is 35.38%.

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.