American National Bank & Trust Has $126,000 Stock Holdings in Phillips 66 (NYSE:PSX)

American National Bank & Trust lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 45.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 961 shares of the oil and gas company’s stock after selling 812 shares during the period. American National Bank & Trust’s holdings in Phillips 66 were worth $126,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new position in shares of Phillips 66 during the 1st quarter worth $25,000. Keener Financial Planning LLC acquired a new stake in Phillips 66 in the first quarter valued at $26,000. Strategic Financial Concepts LLC bought a new stake in Phillips 66 in the second quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. bought a new position in Phillips 66 during the fourth quarter worth $27,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Phillips 66 during the 1st quarter valued at about $28,000. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the subject of several recent research reports. Scotiabank decreased their price objective on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. JPMorgan Chase & Co. dropped their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday. Barclays raised their price objective on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Morgan Stanley decreased their price target 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. Finally, Wolfe Research assumed coverage on Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $152.71.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $138.93 on Friday. The firm has a fifty day moving average price of $133.90 and a 200 day moving average price of $142.51. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08. The firm has a market cap of $58.90 billion, a price-to-earnings ratio of 10.69, a P/E/G ratio of 5.28 and a beta of 1.33. 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 (NYSE:PSX) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.33. The business 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 firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.87 EPS. As a group, sell-side analysts expect that Phillips 66 will post 8.27 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were given 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 3.31%. Phillips 66’s dividend payout ratio (DPR) 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.