Phillips 66 (NYSE:PSX) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp cut its position in Phillips 66 (NYSE:PSX) by 2.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 16,671 shares of the oil and gas company’s stock after selling 425 shares during the period. Hancock Whitney Corp’s holdings in Phillips 66 were worth $2,191,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PSX. Lazard Asset Management LLC lifted its position in shares of Phillips 66 by 12.7% during the first quarter. Lazard Asset Management LLC now owns 3,998 shares of the oil and gas company’s stock worth $652,000 after purchasing an additional 451 shares in the last quarter. Caxton Associates LP lifted its holdings in Phillips 66 by 22.2% during the 1st quarter. Caxton Associates LP now owns 5,630 shares of the oil and gas company’s stock worth $920,000 after buying an additional 1,024 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its position in Phillips 66 by 1.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 20,955 shares of the oil and gas company’s stock valued at $3,423,000 after buying an additional 325 shares during the period. B. Riley Wealth Advisors Inc. grew its stake in shares of Phillips 66 by 15.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 38,175 shares of the oil and gas company’s stock worth $6,236,000 after acquiring an additional 5,089 shares in the last quarter. Finally, Beacon Capital Management LLC increased its position in shares of Phillips 66 by 75.5% during the first quarter. Beacon Capital Management LLC now owns 509 shares of the oil and gas company’s stock worth $83,000 after acquiring an additional 219 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on PSX shares. TD Cowen lowered their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Barclays cut their target price on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Raymond James lifted their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lowered their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Finally, Scotiabank reduced their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $149.69.

Phillips 66 Stock Performance

NYSE PSX opened at $133.33 on Tuesday. The company has a fifty day moving average of $130.40 and a two-hundred day moving average of $135.17. The company has a market capitalization of $55.06 billion, a PE ratio of 17.12, a P/E/G ratio of 4.40 and a beta of 1.33. Phillips 66 has a 1 year low of $117.32 and a 1 year high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business’s revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the firm earned $4.63 EPS. As a group, analysts expect that Phillips 66 will post 7.57 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.45%. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

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.