Central Bank & Trust Co. Acquires 214 Shares of Phillips 66 (NYSE:PSX)

Central Bank & Trust Co. boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 12.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,990 shares of the oil and gas company’s stock after buying an additional 214 shares during the period. Central Bank & Trust Co.’s holdings in Phillips 66 were worth $246,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Tallon Kerry Patrick bought a new stake in shares of Phillips 66 in the fourth quarter worth about $336,000. Brighton Jones LLC grew its stake in shares of Phillips 66 by 238.5% in the fourth 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. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Phillips 66 by 24.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,705 shares of the oil and gas company’s stock worth $4,803,000 after purchasing an additional 8,517 shares during the last quarter. Silver Oak Securities Incorporated grew its stake in shares of Phillips 66 by 46.5% in the fourth quarter. Silver Oak Securities Incorporated now owns 2,135 shares of the oil and gas company’s stock worth $239,000 after purchasing an additional 678 shares during the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Phillips 66 in the fourth quarter worth about $2,301,000. Institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Robert W. Pease acquired 439 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The shares were bought at an average cost of $113.85 per share, with a total value of $49,980.15. Following the completion of the acquisition, the director now directly owns 4,091 shares in the company, valued at $465,760.35. This represents a 12.02% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

NYSE PSX opened at $114.51 on Monday. The company has a market cap of $46.65 billion, a P/E ratio of 23.18, a P/E/G ratio of 4.84 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The business’s 50 day moving average price is $108.22 and its 200-day moving average price is $117.83. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The firm had revenue of $31.92 billion during the quarter, compared to analysts’ expectations of $31.93 billion. During the same period last year, the company earned $1.90 earnings per share. Sell-side analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

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

Analysts Set New Price Targets

Several analysts have weighed in on PSX shares. The Goldman Sachs Group cut Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective on the stock. in a research report on Thursday, March 27th. JPMorgan Chase & Co. cut their price objective on Phillips 66 from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 29th. Morgan Stanley cut their price objective on Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company cut their price objective on Phillips 66 from $162.00 to $149.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Finally, Barclays lifted their price objective on Phillips 66 from $106.00 to $115.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $135.62.

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.