Citizens National Bank Trust Department Decreases Stock Position in Phillips 66 $PSX

Citizens National Bank Trust Department lessened its position in shares of Phillips 66 (NYSE:PSX) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,267 shares of the oil and gas company’s stock after selling 220 shares during the period. Citizens National Bank Trust Department’s holdings in Phillips 66 were worth $3,134,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PSX. WealthTrust Axiom LLC raised its stake in Phillips 66 by 1.1% during the first quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock valued at $894,000 after buying an additional 81 shares during the last quarter. Wolff Wiese Magana LLC grew its stake in shares of Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 82 shares during the last quarter. Magnus Financial Group LLC raised its position in shares of Phillips 66 by 2.8% in the 2nd quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock worth $368,000 after purchasing an additional 84 shares during the last quarter. Biltmore Wealth Management LLC boosted its stake in Phillips 66 by 2.4% in the 2nd quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock worth $431,000 after purchasing an additional 85 shares in the last quarter. Finally, XML Financial LLC grew its position in Phillips 66 by 0.5% during the 2nd quarter. XML Financial LLC now owns 17,541 shares of the oil and gas company’s stock valued at $2,093,000 after purchasing an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of several recent analyst reports. Cantor Fitzgerald assumed coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. set a $115.00 price objective on shares of Phillips 66 in a report on Wednesday, June 18th. Wells Fargo & Company cut their target price on Phillips 66 from $149.00 to $147.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 11th. Barclays lifted their target price on Phillips 66 from $127.00 to $132.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Raymond James Financial upped their price target on Phillips 66 from $142.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, September 9th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $140.50.

Phillips 66 Price Performance

NYSE PSX opened at $132.34 on Wednesday. The business’s fifty day moving average price is $129.07 and its 200-day moving average price is $120.51. The stock has a market capitalization of $53.48 billion, a price-to-earnings ratio of 31.81, a PEG ratio of 1.91 and a beta of 1.11. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $142.35.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.79 by $0.59. The company had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same quarter in the previous year, the company posted $2.31 earnings per share. On average, equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were paid 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 is 115.38%.

Insider Buying and Selling 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 shares were 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 filing with the SEC, which can be accessed through the SEC website. Also, Director Michael A. Heim bought 1,000 shares of Phillips 66 stock in a transaction on Wednesday, July 30th. The shares were acquired at an average cost of $125.97 per share, with a total value of $125,970.00. Following the completion of the acquisition, the director owned 12,043 shares of the company’s stock, valued at $1,517,056.71. The trade was a 9.06% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 9,850 shares of company stock worth $1,188,910. 0.22% of the stock is owned by corporate insiders.

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.