First Financial Bankshares Inc Sells 8,179 Shares of Phillips 66 $PSX

First Financial Bankshares Inc cut its position in shares of Phillips 66 (NYSE:PSX) by 22.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,842 shares of the oil and gas company’s stock after selling 8,179 shares during the quarter. First Financial Bankshares Inc’s holdings in Phillips 66 were worth $3,722,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Board of the Pension Protection Fund bought a new position in shares of Phillips 66 during the 4th quarter valued at about $26,000. Accordant Advisory Group Inc increased its position in shares of Phillips 66 by 900.0% during the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in shares of Phillips 66 during the 4th quarter valued at about $27,000. Stephens Consulting LLC increased its position in shares of Phillips 66 by 67.7% during the 4th quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 90 shares during the last quarter. Finally, Dorato Capital Management bought a new position in shares of Phillips 66 during the 4th quarter valued at about $35,000. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PSX shares. Raymond James Financial raised their price target on Phillips 66 from $215.00 to $218.00 and gave the stock an “outperform” rating in a research report on Wednesday. TD Cowen boosted their price objective on Phillips 66 from $155.00 to $213.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. Jefferies Financial Group increased their price objective on Phillips 66 from $173.00 to $191.00 and gave the company a “hold” rating in a research note on Tuesday, May 26th. Zacks Research raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Finally, Wall Street Zen lowered Phillips 66 from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $191.44.

Insider Buying and Selling

In other Phillips 66 news, Director Kevin Omar Meyers acquired 175 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were purchased at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the transaction, the director owned 16,799 shares in the company, valued at $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin J. Mitchell sold 600 shares of Phillips 66 stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $171.56, for a total value of $102,936.00. Following the completion of the sale, the chief financial officer owned 97,376 shares in the company, valued at approximately $16,705,826.56. This represents a 0.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 45,629 shares of company stock worth $8,071,540. Corporate insiders own 0.40% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $178.23 on Friday. The firm has a market cap of $71.46 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 0.27 and a beta of 0.68. Phillips 66 has a fifty-two week low of $118.00 and a fifty-two week high of $190.61. The business has a 50 day moving average price of $172.41 and a 200-day moving average price of $157.59. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. The firm had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company earned ($0.90) EPS. Equities research analysts predict that Phillips 66 will post 17.64 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, May 18th. Phillips 66’s dividend payout ratio (DPR) is currently 50.05%.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.