Fiduciary Trust Co Decreases Stock Position in Phillips 66 (NYSE:PSX)

Fiduciary Trust Co cut its position in shares of Phillips 66 (NYSE:PSXFree Report) by 22.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 11,240 shares of the oil and gas company’s stock after selling 3,173 shares during the quarter. Fiduciary Trust Co’s holdings in Phillips 66 were worth $1,496,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. First United Bank & Trust bought a new stake in shares of Phillips 66 in the fourth quarter valued at about $31,000. Cornerstone Planning Group LLC grew its position in Phillips 66 by 134.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 151 shares during the last quarter. Signature Resources Capital Management LLC purchased a new stake in shares of Phillips 66 during the fourth quarter valued at $33,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Phillips 66 during the fourth quarter valued at $36,000. Finally, Gladius Capital Management LP acquired a new position in shares of Phillips 66 in the 4th quarter valued at $36,000. 76.93% of the stock is currently owned by institutional investors.

Insider Activity at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the transaction, the executive vice president now owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the transaction, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,864 shares of company stock valued at $7,567,178. 0.22% of the stock is currently owned by insiders.

Phillips 66 Price Performance

Shares of NYSE PSX traded up $0.11 during trading on Thursday, hitting $138.30. The company had a trading volume of 1,461,696 shares, compared to its average volume of 2,777,335. The firm has a market capitalization of $58.63 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 1.94 and a beta of 1.41. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $174.08. The stock has a fifty day simple moving average of $153.59 and a two-hundred day simple moving average of $142.07. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSXGet Free Report) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The firm had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the previous year, the company earned $4.21 EPS. On average, research analysts expect that Phillips 66 will post 12.26 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is currently 35.38%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PSX shares. Scotiabank boosted their price target on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Mizuho decreased their price objective on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. The Goldman Sachs Group increased their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Barclays decreased their target price on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 30th. Finally, Wells Fargo & Company increased their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $158.93.

Read Our Latest Stock Report on PSX

Phillips 66 Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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