CENTRAL TRUST Co lessened its stake in shares of Phillips 66 (NYSE:PSX) by 3.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 48,528 shares of the oil and gas company’s stock after selling 1,689 shares during the period. CENTRAL TRUST Co’s holdings in Phillips 66 were worth $4,618,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Moody National Bank Trust Division increased its stake in shares of Phillips 66 by 425.4% in the fourth quarter. Moody National Bank Trust Division now owns 352 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 285 shares during the last quarter. Burt Wealth Advisors increased its stake in shares of Phillips 66 by 285.7% in the first quarter. Burt Wealth Advisors now owns 405 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 300 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of Phillips 66 by 46.1% in the fourth quarter. Proficio Capital Partners LLC now owns 434 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 137 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Phillips 66 in the fourth quarter worth $37,000. Finally, Truehand Inc acquired a new position in Phillips 66 during the fourth quarter worth $40,000. Institutional investors own 71.83% of the company’s stock.
PSX stock traded down $0.56 during mid-day trading on Wednesday, reaching $85.60. 1,712,539 shares of the stock traded hands, compared to its average volume of 2,665,339. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.84. Phillips 66 has a 52 week low of $78.44 and a 52 week high of $123.97. The stock has a market capitalization of $39.08 billion, a price-to-earnings ratio of 7.31, a price-to-earnings-growth ratio of 1.36 and a beta of 0.91.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.06. Phillips 66 had a net margin of 4.63% and a return on equity of 19.96%. The company had revenue of $23.66 billion during the quarter, compared to analysts’ expectations of $24.66 billion. During the same period in the prior year, the company earned $1.04 earnings per share. Equities analysts expect that Phillips 66 will post 7.26 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 4.21%. The ex-dividend date is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $0.80. Phillips 66’s dividend payout ratio (DPR) is presently 30.74%.
In related news, Director John E. Lowe bought 2,000 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 9th. The stock was acquired at an average price of $84.41 per share, for a total transaction of $168,820.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is currently owned by company insiders.
Several equities analysts have commented on PSX shares. Bank of America raised shares of Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 target price on the stock in a research report on Monday, April 29th. They noted that the move was a valuation call. Tudor Pickering raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. Citigroup increased their target price on shares of Phillips 66 from $100.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. ValuEngine downgraded shares of Phillips 66 from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 7th. Finally, Argus lowered their target price on shares of Phillips 66 to $116.00 and set a “buy” rating on the stock in a research report on Thursday, February 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $119.42.
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Phillips 66 Company Profile
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.
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