Colonial Trust Co SC Sells 3,004 Shares of Phillips 66 $PSX

Colonial Trust Co SC lowered its position in shares of Phillips 66 (NYSE:PSX) by 9.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,794 shares of the oil and gas company’s stock after selling 3,004 shares during the period. Colonial Trust Co SC’s holdings in Phillips 66 were worth $3,587,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Board of the Pension Protection Fund bought a new stake in Phillips 66 during the 4th quarter worth $26,000. Accordant Advisory Group Inc grew its position in 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 worth $26,000 after acquiring an additional 180 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in Phillips 66 during the 4th quarter worth $27,000. Stephens Consulting LLC grew its position in Phillips 66 by 67.7% during the 4th quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 90 shares during the last quarter. Finally, Dorato Capital Management bought a new stake in Phillips 66 during the 4th quarter worth $35,000. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

In related news, CFO Kevin J. Mitchell sold 29,400 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the transaction, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $16,553,920. This represents a 23.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kevin Omar Meyers purchased 175 shares of the company’s stock in a transaction that occurred on 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 completion of the purchase, the director owned 16,799 shares in the company, valued at $2,908,242.88. This trade represents a 1.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have sold 45,629 shares of company stock worth $8,071,540. 0.40% of the stock is owned by company insiders.

Phillips 66 Stock Down 1.9%

Shares of NYSE:PSX opened at $178.23 on Friday. The company has a market capitalization of $71.46 billion, a price-to-earnings ratio of 17.56, a P/E/G ratio of 0.27 and a beta of 0.68. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The business’s 50-day moving average is $172.41 and its 200-day moving average is $157.59. Phillips 66 has a 1 year low of $118.00 and a 1 year high of $190.61.

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

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, May 18th. Phillips 66’s dividend payout ratio is 50.05%.

Analyst Ratings Changes

Several research analysts have commented on PSX shares. The Goldman Sachs Group lifted their target price on Phillips 66 from $192.00 to $207.00 and gave the stock a “neutral” rating in a report on Tuesday, May 19th. Weiss Ratings downgraded Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Zacks Research raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $180.00 target price on shares of Phillips 66 in a report on Thursday, April 30th. Finally, Jefferies Financial Group lifted their target price on Phillips 66 from $173.00 to $191.00 and gave the stock a “hold” rating in a report on Tuesday, May 26th. Two equities research 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $191.44.

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.