Argent Trust Co Has $1.23 Million Holdings in Phillips 66 (NYSE:PSX)

Argent Trust Co increased its position in shares of Phillips 66 (NYSE:PSX) by 3.1% during the second quarter, HoldingsChannel.com reports. The firm owned 8,715 shares of the oil and gas company’s stock after buying an additional 262 shares during the period. Argent Trust Co’s holdings in Phillips 66 were worth $1,230,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of PSX. Madison Park Capital Advisors LLC increased its holdings in Phillips 66 by 3.0% in the 1st quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock valued at $383,000 after buying an additional 68 shares during the period. Warwick Investment Management Inc. boosted its position in shares of Phillips 66 by 3.1% during the 4th quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock valued at $319,000 after acquiring an additional 73 shares in the last quarter. MV Capital Management Inc. increased its stake in Phillips 66 by 9.6% in the first quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock valued at $137,000 after acquiring an additional 73 shares during the period. HCR Wealth Advisors raised its position in Phillips 66 by 2.9% in the fourth quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock worth $351,000 after purchasing an additional 74 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC lifted its stake in Phillips 66 by 0.4% during the second quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock worth $2,519,000 after purchasing an additional 74 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PSX. Mizuho lowered their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday. Argus reiterated a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a research report on Thursday, May 30th. Piper Sandler dropped their price objective on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Scotiabank reduced their target price on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Finally, TD Cowen lowered their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $155.29.

Phillips 66 Price Performance

PSX opened at $132.56 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The company’s 50 day simple moving average is $135.37 and its 200-day simple moving average is $143.79. Phillips 66 has a one year low of $107.85 and a one year high of $174.08. The stock has a market capitalization of $55.49 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 4.53 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.98 by $0.33. The company had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the firm earned $3.87 EPS. Sell-side analysts anticipate that Phillips 66 will post 9.25 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.47%. Phillips 66’s dividend payout ratio is currently 35.38%.

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.