FineMark National Bank & Trust Sells 136 Shares of Phillips 66 (NYSE:PSX)

FineMark National Bank & Trust lessened its position in Phillips 66 (NYSE:PSX) by 1.8% during the fourth quarter, Holdings Channel reports. The fund owned 7,321 shares of the oil and gas company’s stock after selling 136 shares during the period. FineMark National Bank & Trust’s holdings in Phillips 66 were worth $975,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. First United Bank & Trust bought a new position in shares of Phillips 66 during the 4th quarter valued at $31,000. Cornerstone Planning Group LLC boosted its position in Phillips 66 by 134.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 151 shares during the period. Signature Resources Capital Management LLC bought a new stake in Phillips 66 in the 4th quarter worth $33,000. Bruce G. Allen Investments LLC purchased a new position in shares of Phillips 66 in the fourth quarter valued at about $36,000. Finally, Gladius Capital Management LP bought a new position in shares of Phillips 66 during the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX traded up $0.49 during mid-day trading on Friday, hitting $142.68. 1,250,654 shares of the company traded hands, compared to its average volume of 2,284,897. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The stock has a 50-day moving average price of $154.57 and a two-hundred day moving average price of $141.26. The stock has a market cap of $60.49 billion, a price-to-earnings ratio of 10.98, a P/E/G ratio of 1.93 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The firm had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same period in the previous year, the company earned $4.21 earnings per share. Equities analysts anticipate that Phillips 66 will post 12.26 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a $1.15 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Insider Activity at Phillips 66

In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the sale, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Joseph Scott Pruitt sold 5,922 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,864 shares of company stock worth $7,567,178. Corporate insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PSX. Wells Fargo & Company raised their target price on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Raymond James upped their target price on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Bank of America raised their price target on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Finally, JPMorgan Chase & Co. increased their target price on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $156.21.

About Phillips 66

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.