Phillips 66 $PSX Shares Acquired by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. lifted its stake in shares of Phillips 66 (NYSE:PSX) by 1.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 18,880 shares of the oil and gas company’s stock after purchasing an additional 224 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Phillips 66 were worth $2,252,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PSX. Brighton Jones LLC boosted its holdings in shares of Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after purchasing an additional 7,214 shares during the last quarter. NBC Securities Inc. boosted its holdings in shares of Phillips 66 by 155,700.0% during the 1st quarter. NBC Securities Inc. now owns 1,558 shares of the oil and gas company’s stock worth $192,000 after purchasing an additional 1,557 shares during the last quarter. Merit Financial Group LLC boosted its holdings in shares of Phillips 66 by 23.4% during the 1st quarter. Merit Financial Group LLC now owns 10,331 shares of the oil and gas company’s stock worth $1,276,000 after purchasing an additional 1,959 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Phillips 66 by 3.1% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 13,182 shares of the oil and gas company’s stock worth $1,628,000 after purchasing an additional 399 shares during the last quarter. Finally, Apella Capital LLC acquired a new position in shares of Phillips 66 during the 1st quarter worth approximately $245,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Phillips 66

In related news, Director Gregory Hayes acquired 8,350 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were acquired at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the transaction, the director owned 29,423 shares of the company’s stock, valued at $3,527,817.70. The trade was a 39.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael A. Heim acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The shares were bought at an average cost of $125.97 per share, for a total transaction of $125,970.00. Following the transaction, the director directly owned 12,043 shares of the company’s stock, valued at approximately $1,517,056.71. This trade represents a 9.06% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 9,850 shares of company stock worth $1,188,910 and sold 13,179 shares worth $1,779,165. 0.22% of the stock is owned by company insiders.

Phillips 66 Stock Down 1.3%

Shares of NYSE PSX opened at $133.14 on Friday. The firm has a market cap of $53.80 billion, a price-to-earnings ratio of 32.00, a PEG ratio of 1.95 and a beta of 1.11. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $142.35. The business’s 50 day moving average is $128.89 and its two-hundred day moving average is $120.49.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.59. The company had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same quarter in the previous year, the company earned $2.31 earnings per share. Research analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were given a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a yield of 3.6%. Phillips 66’s payout ratio is presently 115.38%.

Analysts Set New Price Targets

Several analysts have recently commented on PSX shares. Zacks Research raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. Mizuho lifted their price target on shares of Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. UBS Group lifted their price target on shares of Phillips 66 from $143.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Scotiabank reaffirmed a “sector perform” rating and set a $133.00 price target on shares of Phillips 66 in a research report on Friday, July 11th. Finally, Bank of America lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and lifted their price target for the company from $144.00 to $147.00 in a research report on Wednesday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $140.19.

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.