Peoples Bank OH Has $1.02 Million Holdings in Phillips 66 (NYSE:PSX)

Peoples Bank OH lessened its holdings in Phillips 66 (NYSE:PSX) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,670 shares of the oil and gas company’s stock after selling 125 shares during the period. Peoples Bank OH’s holdings in Phillips 66 were worth $1,021,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Cornerstone Planning Group LLC lifted 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 acquiring an additional 151 shares during the last quarter. First Capital Advisors Group LLC. acquired a new position in Phillips 66 during the 2nd quarter worth $25,000. Bruce G. Allen Investments LLC acquired a new position in Phillips 66 during the 4th quarter worth $36,000. West Branch Capital LLC raised its position in shares of Phillips 66 by 49.5% during the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 91 shares during the last quarter. Finally, Bell Investment Advisors Inc raised its position in shares of Phillips 66 by 82.1% during the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 138 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

Phillips 66 stock traded up $0.07 during trading hours on Friday, hitting $170.75. 2,166,923 shares of the stock were exchanged, compared to its average volume of 3,097,216. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. The stock has a market capitalization of $73.05 billion, a P/E ratio of 11.04, a P/E/G ratio of 2.19 and a beta of 1.37. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The business’s 50-day moving average is $151.16 and its two-hundred day moving average is $132.56.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The company had revenue of $38.74 billion for the quarter, compared to analyst estimates of $34.30 billion. Equities research analysts expect that Phillips 66 will post 13 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.69%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s dividend payout ratio is presently 27.15%.

Insider Activity at Phillips 66

In other Phillips 66 news, Director Robert W. Pease acquired 682 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the acquisition, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Robert W. Pease bought 682 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were bought at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the acquisition, the director now owns 1,900 shares in the company, valued at approximately $278,502. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the sale, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The disclosure for this sale can be found here. Insiders have sold 35,056 shares of company stock worth $5,272,681 over the last ninety days. Company insiders own 4.57% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on shares of Phillips 66 from $163.00 to $179.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Barclays upped their price objective on shares of Phillips 66 from $132.00 to $139.00 and gave the company an “equal weight” rating in a research report on Monday, February 5th. Raymond James upped their price objective on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Mizuho upped their price objective on shares of Phillips 66 from $135.00 to $167.00 and gave the company a “neutral” rating in a research report on Friday, March 22nd. Finally, Piper Sandler upped their target price on shares of Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.38.

Phillips 66 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.