Phillips 66 (NYSE:PSX) Holdings Lowered by First National Bank & Trust Co. of Newtown

First National Bank & Trust Co. of Newtown trimmed its stake in shares of Phillips 66 (NYSE:PSX) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,679 shares of the oil and gas company’s stock after selling 207 shares during the quarter. First National Bank & Trust Co. of Newtown’s holdings in Phillips 66 were worth $889,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in PSX. Bornite Capital Management LP bought a new stake in shares of Phillips 66 in the 1st quarter worth approximately $8,639,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Phillips 66 by 316.2% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,597 shares of the oil and gas company’s stock worth $570,000 after purchasing an additional 5,012 shares in the last quarter. Synovus Financial Corp raised its holdings in shares of Phillips 66 by 5.1% in the 1st quarter. Synovus Financial Corp now owns 16,257 shares of the oil and gas company’s stock worth $1,405,000 after purchasing an additional 788 shares in the last quarter. Cibc World Market Inc. raised its holdings in shares of Phillips 66 by 61.9% in the 1st quarter. Cibc World Market Inc. now owns 7,236 shares of the oil and gas company’s stock worth $625,000 after purchasing an additional 2,766 shares in the last quarter. Finally, Blair William & Co. IL increased its position in shares of Phillips 66 by 103.8% in the first quarter. Blair William & Co. IL now owns 53,538 shares of the oil and gas company’s stock worth $4,625,000 after acquiring an additional 27,267 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Price Performance

Shares of PSX traded up $1.38 during trading hours on Friday, hitting $154.69. The stock had a trading volume of 833,995 shares, compared to its average volume of 2,986,228. The company’s fifty day moving average is $154.22 and its two-hundred day moving average is $135.06. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The stock has a market capitalization of $66.18 billion, a price-to-earnings ratio of 9.91, a P/E/G ratio of 1.98 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The firm had revenue of $38.74 billion for the quarter, compared to analyst estimates of $34.30 billion. On average, analysts anticipate that Phillips 66 will post 13.25 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a dividend of $1.15 per share. 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. This represents a $4.60 dividend on an annualized basis and a yield of 2.97%. Phillips 66’s dividend payout ratio is presently 27.15%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Piper Sandler lifted their target price on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Thursday. Bank of America boosted their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Finally, Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.00.

Insider Buying and Selling at Phillips 66

In related news, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the sale, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,036,164.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the sale, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,036,164.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert W. Pease bought 682 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were bought at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the acquisition, the director now directly owns 1,900 shares in the company, valued at approximately $278,502. The disclosure for this purchase can be found here. In the last three months, insiders have sold 35,056 shares of company stock worth $5,272,681. Company insiders own 0.22% of the company’s stock.

Phillips 66 Company 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.