Fulton Bank N.A. Purchases 328 Shares of Phillips 66 (NYSE:PSX)

Fulton Bank N.A. increased its position in Phillips 66 (NYSE:PSX) by 6.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,455 shares of the oil and gas company’s stock after purchasing an additional 328 shares during the quarter. Fulton Bank N.A.’s holdings in Phillips 66 were worth $770,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Trust Point Inc. acquired a new stake in shares of Phillips 66 in the fourth quarter valued at $280,000. Ballentine Partners LLC increased its stake in shares of Phillips 66 by 16.6% in the fourth quarter. Ballentine Partners LLC now owns 2,803 shares of the oil and gas company’s stock valued at $373,000 after buying an additional 400 shares in the last quarter. Allworth Financial LP raised its holdings in Phillips 66 by 17.0% during the 4th quarter. Allworth Financial LP now owns 14,633 shares of the oil and gas company’s stock worth $1,948,000 after purchasing an additional 2,131 shares during the last quarter. Prime Capital Investment Advisors LLC lifted its position in Phillips 66 by 33.0% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 23,184 shares of the oil and gas company’s stock valued at $3,087,000 after purchasing an additional 5,746 shares during the period. Finally, Grimes & Company Inc. bought a new stake in shares of Phillips 66 during the fourth quarter worth approximately $251,000. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Phillips 66 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 directly owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.22% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PSX shares. Mizuho cut their price target on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Argus reissued a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a research note on Thursday, May 30th. Wolfe Research started coverage on Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. cut their price target on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Finally, Raymond James increased their price target on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.38.

Phillips 66 Price Performance

Shares of PSX stock traded up $2.41 during trading hours on Wednesday, reaching $135.49. The company’s stock had a trading volume of 1,005,863 shares, compared to its average volume of 2,668,511. The firm’s 50 day simple moving average is $138.55 and its 200-day simple moving average is $146.02. The company has a market capitalization of $56.71 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 2.37 and a beta of 1.34. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08. The company has a quick ratio of 0.82, a current ratio of 1.14 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.33. The business 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%. Phillips 66’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $3.87 EPS. Sell-side analysts forecast that Phillips 66 will post 9.5 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is currently 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.