Hancock Whitney Corp Has $3.59 Million Stake in Phillips 66 (NYSE:PSX)

Hancock Whitney Corp lessened its holdings in Phillips 66 (NYSE:PSX) by 6.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,968 shares of the oil and gas company’s stock after selling 1,393 shares during the period. Hancock Whitney Corp’s holdings in Phillips 66 were worth $3,588,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Ritholtz Wealth Management acquired a new position in shares of Phillips 66 during the 4th quarter worth about $245,000. Global Retirement Partners LLC increased its holdings in shares of Phillips 66 by 29.2% during the 4th quarter. Global Retirement Partners LLC now owns 2,702 shares of the oil and gas company’s stock worth $350,000 after purchasing an additional 610 shares during the period. Fifth Third Bancorp raised its holdings in Phillips 66 by 5.3% in the 4th quarter. Fifth Third Bancorp now owns 36,919 shares of the oil and gas company’s stock valued at $4,915,000 after acquiring an additional 1,869 shares in the last quarter. AdvisorNet Financial Inc increased its holdings in Phillips 66 by 26.6% in the 4th quarter. AdvisorNet Financial Inc now owns 1,275 shares of the oil and gas company’s stock valued at $170,000 after buying an additional 268 shares during the period. Finally, Claro Advisors LLC acquired a new stake in shares of Phillips 66 in the 4th quarter valued at $221,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PSX shares. Raymond James upped their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday. Piper Sandler reduced their price objective on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Mizuho reduced their price target on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. TD Cowen increased their target price on Phillips 66 from $155.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Scotiabank cut their price target on shares of 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 given a buy rating to the stock. According to MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $157.23.

Phillips 66 Trading Down 3.0 %

Shares of NYSE:PSX traded down $4.36 during midday trading on Thursday, hitting $141.12. 841,749 shares of the stock were exchanged, compared to its average volume of 2,660,515. The business’s 50-day moving average price is $139.17 and its 200 day moving average price is $145.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. Phillips 66 has a 12 month low of $107.41 and a 12 month high of $174.08. The stock has a market capitalization of $59.83 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 2.61 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.33. The company had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a net margin of 3.33% and a return on equity of 16.64%. Phillips 66’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.87 earnings per share. Analysts predict that Phillips 66 will post 9.4 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.26%. Phillips 66’s payout ratio is 35.38%.

Insiders Place Their Bets

In other news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the sale, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate 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.