Phillips 66 (NYSE:PSX) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp reduced its position in shares of Phillips 66 (NYSE:PSX) by 2.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,671 shares of the oil and gas company’s stock after selling 425 shares during the quarter. Hancock Whitney Corp’s holdings in Phillips 66 were worth $2,191,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PSX. nVerses Capital LLC acquired a new stake in Phillips 66 in the third quarter valued at approximately $26,000. Bank & Trust Co purchased a new stake in Phillips 66 in the 2nd quarter worth $31,000. Values First Advisors Inc. purchased a new stake in Phillips 66 in the 3rd quarter worth $30,000. Opal Wealth Advisors LLC acquired a new position in Phillips 66 during the second quarter worth $34,000. Finally, Fortitude Family Office LLC lifted its holdings in Phillips 66 by 52.3% during the second quarter. Fortitude Family Office LLC now owns 265 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PSX shares. JPMorgan Chase & Co. reduced their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. TD Cowen reduced their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Piper Sandler set a $144.00 price target on Phillips 66 in a research note on Thursday, October 17th. Barclays reduced their price objective on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Finally, Scotiabank lowered their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Stock Performance

NYSE:PSX opened at $133.33 on Tuesday. The company’s 50-day moving average is $130.40 and its two-hundred day moving average is $135.17. Phillips 66 has a 1-year low of $117.32 and a 1-year high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The firm has a market capitalization of $55.06 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 4.40 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same period in the prior year, the business posted $4.63 earnings per share. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. Analysts forecast that Phillips 66 will post 7.57 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.45%. Phillips 66’s payout ratio is currently 59.05%.

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.