Legacy Private Trust Co. Boosts Stock Position in Phillips 66 (NYSE:PSX)

Legacy Private Trust Co. boosted its position in shares of Phillips 66 (NYSE:PSX) by 31.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,812 shares of the oil and gas company’s stock after acquiring an additional 678 shares during the quarter. Legacy Private Trust Co.’s holdings in Phillips 66 were worth $320,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Strategic Financial Concepts LLC purchased a new stake in Phillips 66 during the 2nd quarter worth approximately $26,000. nVerses Capital LLC purchased a new stake in shares of Phillips 66 during the third quarter worth $26,000. Values First Advisors Inc. acquired a new stake in shares of Phillips 66 in the third quarter valued at $30,000. Point72 Hong Kong Ltd purchased a new position in Phillips 66 in the third quarter valued at $40,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Phillips 66 during the 2nd quarter worth $51,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. TD Cowen decreased their price objective 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. Morgan Stanley lowered their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. reduced their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Barclays lowered their target price on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Finally, Scotiabank lowered their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $148.57.

Phillips 66 Stock Performance

Shares of PSX stock opened at $116.26 on Thursday. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08. The stock’s 50-day moving average price is $123.34 and its 200 day moving average price is $130.77. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $48.01 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 4.06 and a beta of 1.38.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same period last year, the firm posted $4.63 EPS. Phillips 66’s quarterly revenue was down 10.3% on a year-over-year basis. As a group, equities research analysts forecast that Phillips 66 will post 7.56 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend was Monday, November 18th. Phillips 66’s payout ratio is 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.