Piscataqua Savings Bank Buys 135 Shares of Phillips 66 (NYSE:PSX)

Piscataqua Savings Bank raised its stake in shares of Phillips 66 (NYSE:PSX) by 19.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 816 shares of the oil and gas company’s stock after purchasing an additional 135 shares during the quarter. Piscataqua Savings Bank’s holdings in Phillips 66 were worth $101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of PSX. Forum Financial Management LP lifted its holdings in shares of Phillips 66 by 1.0% during the 4th quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company’s stock worth $853,000 after acquiring an additional 77 shares during the last quarter. NewEdge Wealth LLC lifted its stake in Phillips 66 by 0.5% during the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock worth $1,732,000 after purchasing an additional 81 shares during the last quarter. JBR Co Financial Management Inc lifted its stake in Phillips 66 by 0.9% during the fourth quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company’s stock worth $1,085,000 after purchasing an additional 85 shares during the last quarter. Nwam LLC lifted its position in Phillips 66 by 2.2% in the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock worth $442,000 after buying an additional 85 shares during the last quarter. Finally, PFG Private Wealth Management LLC lifted its position in Phillips 66 by 7.7% in the 4th quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company’s stock worth $140,000 after buying an additional 88 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Phillips 66 news, Director Robert W. Pease bought 439 shares of the firm’s stock in a transaction on Thursday, May 22nd. The stock was acquired at an average price of $113.85 per share, with a total value of $49,980.15. Following the completion of the purchase, the director now owns 4,091 shares of the company’s stock, valued at approximately $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is owned by company insiders.

Phillips 66 Trading Up 2.0%

PSX opened at $114.51 on Friday. The business has a 50 day simple moving average of $108.22 and a two-hundred day simple moving average of $118.02. The firm has a market capitalization of $46.65 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 4.84 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a one year low of $91.01 and a one year high of $150.12.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The business had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the company earned $1.90 EPS. Analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 4.19%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date was Monday, May 19th. Phillips 66’s dividend payout ratio (DPR) is presently 109.34%.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Morgan Stanley dropped their target price on Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Tudor Pickering downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Scotiabank lowered their price target on shares of Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. TD Cowen boosted their target price on Phillips 66 from $114.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Finally, Mizuho boosted their target price on Phillips 66 from $132.00 to $138.00 and gave the company a “neutral” rating in a research note on Tuesday, May 13th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $135.62.

About Phillips 66

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.