First National Bank & Trust Co. of Newtown Decreases Holdings in Phillips 66 (NYSE:PSX)

First National Bank & Trust Co. of Newtown cut its holdings in shares of Phillips 66 (NYSE:PSX) by 3.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,679 shares of the oil and gas company’s stock after selling 207 shares during the quarter. First National Bank & Trust Co. of Newtown’s holdings in Phillips 66 were worth $889,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. First Capital Advisors Group LLC. bought a new stake in shares of Phillips 66 during the 2nd quarter valued at about $25,000. Cornerstone Planning Group LLC lifted its position in Phillips 66 by 134.8% in the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after buying an additional 151 shares during the last quarter. Worth Asset Management LLC bought a new stake in Phillips 66 in the 1st quarter worth approximately $32,000. Bruce G. Allen Investments LLC bought a new stake in Phillips 66 in the 4th quarter worth approximately $36,000. Finally, Bell Investment Advisors Inc lifted its position in Phillips 66 by 82.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after buying an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Piper Sandler boosted their target price on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Citigroup assumed coverage on Phillips 66 in a research report on Wednesday, January 24th. They issued a “buy” rating for the company. Wells Fargo & Company lifted their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Mizuho decreased their price target on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $158.00.

Phillips 66 Stock Up 0.9 %

PSX stock traded up $1.38 during midday trading on Friday, hitting $154.69. The stock had a trading volume of 833,995 shares, compared to its average volume of 2,986,228. The firm has a market cap of $66.18 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 1.98 and a beta of 1.37. The business has a 50-day moving average of $154.22 and a two-hundred day moving average of $135.06. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.72. The company had revenue of $38.74 billion for the quarter, compared to analysts’ expectations of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. As a group, equities research analysts forecast that Phillips 66 will post 13.25 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.97%. This is a boost 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 Buying and Selling

In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the business’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 $1,035,242.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Robert W. Pease bought 682 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were acquired at an average cost of $146.58 per share, with a total value of $99,967.56. Following the completion of the acquisition, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Joseph Scott Pruitt sold 7,200 shares of the business’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 completion of the sale, the vice president now directly owns 6,583 shares in the company, valued at $1,035,242.58. The disclosure for this sale can be found here. Insiders have sold a total of 35,056 shares of company stock valued at $5,272,681 over the last ninety days. Company insiders own 0.22% of the company’s stock.

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.