FARMERS & MERCHANTS TRUST Co OF LONG BEACH Has $412,000 Stock Holdings in Phillips 66 (NYSE:PSX)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH lowered its position in Phillips 66 (NYSE:PSX) by 3.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,521 shares of the oil and gas company’s stock after selling 100 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Phillips 66 were worth $412,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. acquired a new position in Phillips 66 in the fourth quarter worth about $27,000. First United Bank & Trust acquired a new stake in shares of Phillips 66 in the 4th quarter valued at $31,000. Rise Advisors LLC bought a new stake in shares of Phillips 66 in the 1st quarter worth about $40,000. Signature Resources Capital Management LLC acquired a new stake in shares of Phillips 66 during the 4th quarter worth about $33,000. Finally, Bruce G. Allen Investments LLC bought a new position in Phillips 66 during the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In related news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the sale, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.22% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PSX shares. The Goldman Sachs Group lifted their target price on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. TD Cowen dropped their target price on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, June 21st. StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Barclays lowered their price objective on Phillips 66 from $147.00 to $142.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, Raymond James reduced their price objective on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $157.07.

Phillips 66 Stock Down 0.2 %

PSX stock traded down $0.24 during midday trading on Tuesday, hitting $140.69. The company’s stock had a trading volume of 728,129 shares, compared to its average volume of 2,767,078. Phillips 66 has a twelve month low of $94.51 and a twelve month high of $174.08. The stock has a market capitalization of $59.65 billion, a P/E ratio of 10.84, a PEG ratio of 2.12 and a beta of 1.34. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. The company’s fifty day moving average price is $142.91 and its 200 day moving average price is $144.83.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The firm had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same period last year, the company posted $4.21 earnings per share. As a group, equities research analysts predict that Phillips 66 will post 11.08 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend was Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

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.