Phillips 66 $PSX Shares Purchased by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. lifted its position in Phillips 66 (NYSE:PSX) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,880 shares of the oil and gas company’s stock after acquiring an additional 224 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Phillips 66 were worth $2,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in PSX. Elliott Investment Management L.P. increased its position in shares of Phillips 66 by 1,929.0% in the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after acquiring an additional 14,950,000 shares during the period. Nuveen LLC acquired a new stake in Phillips 66 during the 1st quarter worth about $156,482,000. Price T Rowe Associates Inc. MD grew its position in Phillips 66 by 11.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock worth $828,442,000 after purchasing an additional 682,459 shares during the period. Invesco Ltd. grew its position in Phillips 66 by 15.9% during the 1st quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock worth $588,489,000 after purchasing an additional 653,248 shares during the period. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in Phillips 66 during the 2nd quarter worth about $72,897,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Price Performance

NYSE:PSX opened at $133.14 on Friday. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $142.35. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $53.80 billion, a PE ratio of 32.00, a price-to-earnings-growth ratio of 1.95 and a beta of 1.11. The stock’s 50-day moving average price is $128.89 and its 200-day moving average price is $120.49.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The firm had revenue of $33.77 billion for the quarter, compared to analysts’ expectations of $32.11 billion. During the same period last year, the firm earned $2.31 EPS. As a group, equities analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Tuesday, August 19th. Phillips 66’s dividend payout ratio (DPR) is 115.38%.

Insider Transactions at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the sale, the executive vice president directly owned 34,587 shares in the company, valued at approximately $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory Hayes purchased 8,350 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the transaction, the director directly owned 29,423 shares of the company’s stock, valued at $3,527,817.70. This represents a 39.62% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 9,850 shares of company stock valued at $1,188,910 and have sold 13,179 shares valued at $1,779,165. 0.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Argus raised Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. Mizuho increased their price target on Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Monday, September 15th. JPMorgan Chase & Co. set a $115.00 price target on Phillips 66 in a research report on Wednesday, June 18th. Morgan Stanley increased their price target on Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Piper Sandler increased their price target on Phillips 66 from $154.00 to $155.00 and gave the stock a “neutral” rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $140.19.

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.