PNC Financial Services Group Inc. Sells 9,547 Shares of Phillips 66 (NYSE:PSX)

PNC Financial Services Group Inc. lessened its position in Phillips 66 (NYSE:PSX) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 800,865 shares of the oil and gas company’s stock after selling 9,547 shares during the period. PNC Financial Services Group Inc. owned about 0.19% of Phillips 66 worth $91,243,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PSX. Oppenheimer & Co. Inc. increased its position in shares of Phillips 66 by 10.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock valued at $5,349,000 after purchasing an additional 4,515 shares during the last quarter. Flavin Financial Services Inc. purchased a new position in Phillips 66 during the fourth quarter valued at $1,190,000. Everence Capital Management Inc. bought a new stake in shares of Phillips 66 in the fourth quarter worth about $3,033,000. Donoghue Forlines LLC bought a new stake in Phillips 66 in the 4th quarter worth approximately $1,438,000. Finally, Mizuho Securities USA LLC raised its stake in Phillips 66 by 7,549.0% during the third 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 purchasing an additional 2,467,316 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on PSX shares. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Wells Fargo & Company increased their target price on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Mizuho decreased their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. Finally, Barclays cut their target price on 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 investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Stock Up 3.0 %

Shares of NYSE:PSX opened at $126.51 on Friday. The firm has a market cap of $51.58 billion, a price-to-earnings ratio of 25.61, a PEG ratio of 4.84 and a beta of 1.31. Phillips 66 has a 12-month low of $108.91 and a 12-month high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock’s 50-day moving average price is $121.76 and its two-hundred day moving average price is $126.31.

Phillips 66 (NYSE:PSX) last released 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 return on equity of 8.58% and a net margin of 1.46%. During the same quarter last year, the business posted $3.09 earnings per share. On average, research analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

About Phillips 66

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.