Bremer Trust National Association trimmed its position in shares of Phillips 66 (NYSE:PSX) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,831 shares of the oil and gas company’s stock after selling 803 shares during the period. Bremer Trust National Association’s holdings in Phillips 66 were worth $1,703,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PSX. Beach Investment Management LLC. bought a new stake in Phillips 66 during the second quarter valued at about $1,693,000. Teacher Retirement System of Texas boosted its holdings in Phillips 66 by 430.6% during the second quarter. Teacher Retirement System of Texas now owns 168,109 shares of the oil and gas company’s stock valued at $13,901,000 after acquiring an additional 136,425 shares during the period. Advisors Asset Management Inc. boosted its holdings in Phillips 66 by 10.8% during the second quarter. Advisors Asset Management Inc. now owns 23,012 shares of the oil and gas company’s stock valued at $1,903,000 after acquiring an additional 2,247 shares during the period. Alpine Woods Capital Investors LLC boosted its holdings in Phillips 66 by 4.2% during the second quarter. Alpine Woods Capital Investors LLC now owns 12,500 shares of the oil and gas company’s stock valued at $1,034,000 after acquiring an additional 500 shares during the period. Finally, OLD Republic International Corp raised its position in shares of Phillips 66 by 9.0% during the second quarter. OLD Republic International Corp now owns 392,000 shares of the oil and gas company’s stock valued at $32,414,000 after buying an additional 32,500 shares during the last quarter. Institutional investors own 70.12% of the company’s stock.

In related news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $100.25, for a total value of $270,675.00. Following the completion of the transaction, the vice president now owns 2,700 shares of the company’s stock, valued at $270,675. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Phillips 66 (NYSE:PSX) traded up $2.60 during trading hours on Friday, reaching $104.97. 1,849,280 shares of the company traded hands, compared to its average volume of 1,377,356. Phillips 66 has a 52-week low of $75.14 and a 52-week high of $105.09. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.31 and a quick ratio of 0.86. The firm has a market capitalization of $53,190.00, a price-to-earnings ratio of 26.44, a PEG ratio of 1.62 and a beta of 1.24.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.04. Phillips 66 had a net margin of 2.11% and a return on equity of 7.58%. The firm had revenue of $26.21 billion during the quarter, compared to analyst estimates of $29.94 billion. During the same quarter in the prior year, the business posted $1.05 earnings per share. equities research analysts expect that Phillips 66 will post 4.5 earnings per share for the current fiscal year.

Phillips 66 declared that its board has initiated a stock buyback program on Monday, October 9th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the oil and gas company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

A number of brokerages have recently commented on PSX. Morgan Stanley reaffirmed an “equal weight” rating on shares of Phillips 66 in a research report on Thursday. Scotiabank reaffirmed a “buy” rating and set a $112.00 price objective on shares of Phillips 66 in a research report on Wednesday. Howard Weil raised shares of Phillips 66 from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $86.00 to $98.00 in a research report on Thursday, September 28th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $98.00 price objective on shares of Phillips 66 in a research report on Tuesday, September 26th. Finally, Vetr raised shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price objective for the company in a research report on Monday, October 16th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $96.66.

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About Phillips 66

Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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