Phillips 66 $PSX Position Lessened by Diversified Trust Co

Diversified Trust Co trimmed its stake in Phillips 66 (NYSE:PSX) by 23.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 22,121 shares of the oil and gas company’s stock after selling 6,700 shares during the quarter. Diversified Trust Co’s holdings in Phillips 66 were worth $4,030,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Phillips 66 during the fourth quarter valued at $640,206,000. M&T Bank Corp raised its stake in shares of Phillips 66 by 462.9% during the fourth quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock valued at $352,007,000 after purchasing an additional 2,243,268 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Phillips 66 by 424.7% during the third quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock valued at $257,512,000 after purchasing an additional 1,532,389 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new stake in Phillips 66 in the second quarter worth about $107,967,000. Finally, NewEdge Advisors LLC grew its position in Phillips 66 by 732.0% in the 4th quarter. NewEdge Advisors LLC now owns 996,955 shares of the oil and gas company’s stock valued at $128,647,000 after buying an additional 877,131 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.0%

Phillips 66 stock opened at $166.13 on Friday. Phillips 66 has a 12 month low of $118.00 and a 12 month high of $190.61. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The stock has a market cap of $66.61 billion, a P/E ratio of 16.37, a P/E/G ratio of 0.24 and a beta of 0.68. The company’s fifty day simple moving average is $171.94 and its 200-day simple moving average is $158.93.

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, topping the consensus estimate of ($0.54) by $1.03. The business had revenue of $32.54 billion during 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%.Phillips 66’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) earnings per share. As a group, sell-side analysts forecast that Phillips 66 will post 18.22 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were paid a dividend of $1.27 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.1%. Phillips 66’s dividend payout ratio (DPR) is 50.05%.

Insider Transactions at Phillips 66

In other news, Director Kevin Omar Meyers acquired 175 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were purchased at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the acquisition, the director owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This represents a 1.05% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin J. Mitchell sold 600 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $171.56, for a total transaction of $102,936.00. Following the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,705,826.56. The trade was a 0.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 45,629 shares of company stock valued at $8,071,540 over the last ninety days. Company insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on PSX. Mizuho upgraded shares of Phillips 66 from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $170.00 to $212.00 in a research report on Wednesday, May 27th. Raymond James Financial raised their target price on Phillips 66 from $215.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, June 10th. Argus lifted their price target on shares of Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. JPMorgan Chase & Co. raised their price objective on Phillips 66 from $188.00 to $202.00 in a research note on Thursday, April 30th. Finally, Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $192.33.

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.