Private Trust Co. NA Trims Stock Holdings in Phillips 66 $PSX

Private Trust Co. NA trimmed its position in Phillips 66 (NYSE:PSX) by 4.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,588 shares of the oil and gas company’s stock after selling 315 shares during the period. Private Trust Co. NA’s holdings in Phillips 66 were worth $786,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Riverbend Wealth Management LLC grew its stake in shares of Phillips 66 by 4.6% in the second quarter. Riverbend Wealth Management LLC now owns 3,395 shares of the oil and gas company’s stock worth $405,000 after acquiring an additional 149 shares during the last quarter. Stratos Investment Management LLC grew its stake in shares of Phillips 66 by 6.7% in the second quarter. Stratos Investment Management LLC now owns 31,657 shares of the oil and gas company’s stock worth $3,777,000 after acquiring an additional 1,974 shares during the last quarter. Master S Wealth Management Inc. grew its stake in shares of Phillips 66 by 40.7% in the second quarter. Master S Wealth Management Inc. now owns 3,391 shares of the oil and gas company’s stock worth $405,000 after acquiring an additional 981 shares during the last quarter. Harbor Asset Planning Inc. purchased a new stake in shares of Phillips 66 in the second quarter worth $64,000. Finally, Alta Capital Management LLC grew its stake in shares of Phillips 66 by 8.8% in the second quarter. Alta Capital Management LLC now owns 10,564 shares of the oil and gas company’s stock worth $1,260,000 after acquiring an additional 852 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Phillips 66

In other news, Director Sigmund L. Cornelius bought 500 shares of the stock in a transaction on Thursday, July 31st. The shares were bought at an average price of $123.55 per share, with a total value of $61,775.00. Following the completion of the acquisition, the director owned 21,543 shares in the company, valued at $2,661,637.65. The trade was a 2.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gregory Hayes bought 8,350 shares of the stock in a transaction on Thursday, August 14th. The stock was purchased at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the acquisition, the director owned 29,423 shares of the company’s stock, valued at $3,527,817.70. This trade represents a 39.62% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 9,850 shares of company stock worth $1,188,910 in the last ninety days. Insiders own 0.22% of the company’s stock.

Phillips 66 Trading Up 0.7%

Shares of NYSE:PSX opened at $129.21 on Friday. The company has a market cap of $52.22 billion, a P/E ratio of 31.06, a PEG ratio of 1.79 and a beta of 1.11. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $142.35. The stock’s fifty day moving average price is $130.43 and its 200-day moving average price is $120.79.

Phillips 66 (NYSE:PSX) last announced its quarterly 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. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The firm had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. During the same period in the prior year, the company posted $2.31 earnings per share. Sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 3.7%. Phillips 66’s dividend payout ratio is currently 115.38%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PSX. TD Cowen increased their target price on Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Zacks Research raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th. UBS Group increased their target price on Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Mizuho increased their target price on Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. Finally, Evercore ISI upped their price target on Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $141.50.

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.