Peoples Bank OH Sells 150 Shares of Phillips 66 (NYSE:PSX)

Peoples Bank OH lowered its position in shares of Phillips 66 (NYSE:PSX) by 2.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,324 shares of the oil and gas company’s stock after selling 150 shares during the quarter. Peoples Bank OH’s holdings in Phillips 66 were worth $963,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Manning & Napier Advisors LLC bought a new position in shares of Phillips 66 during the 2nd quarter worth approximately $17,670,000. M&G Plc purchased a new stake in Phillips 66 in the second quarter worth $3,596,000. Duality Advisers LP bought a new stake in shares of Phillips 66 in the first quarter valued at $3,596,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Phillips 66 by 42.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock valued at $21,844,000 after buying an additional 39,775 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Phillips 66 by 69.8% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 37,802 shares of the oil and gas company’s stock worth $6,175,000 after acquiring an additional 15,542 shares during the period. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PSX shares. Piper Sandler set a $144.00 price objective on Phillips 66 in a report on Thursday, October 17th. Bank of America started coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Morgan Stanley dropped their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Mizuho lowered their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, Barclays lowered their target price on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $149.50.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is owned by insiders.

Phillips 66 Price Performance

PSX traded down $1.10 during midday trading on Thursday, hitting $128.02. The stock had a trading volume of 1,082,275 shares, compared to its average volume of 2,664,955. The company has a market cap of $54.27 billion, a P/E ratio of 9.83, a price-to-earnings-growth ratio of 5.68 and a beta of 1.33. The business has a fifty day moving average of $132.85 and a 200 day moving average of $139.57. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.33. The business had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. Phillips 66’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.87 earnings per share. As a group, equities analysts forecast that Phillips 66 will post 7.81 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio 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.