Blue Trust Inc. Purchases 3,205 Shares of Phillips 66 (NYSE:PSX)

Blue Trust Inc. boosted its position in shares of Phillips 66 (NYSE:PSX) by 85.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,968 shares of the oil and gas company’s stock after buying an additional 3,205 shares during the period. Blue Trust Inc.’s holdings in Phillips 66 were worth $984,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new position in shares of Phillips 66 in the first quarter valued at $25,000. Keener Financial Planning LLC purchased a new position in Phillips 66 in the first quarter worth about $26,000. Strategic Financial Concepts LLC bought a new stake in Phillips 66 during the second quarter worth approximately $26,000. nVerses Capital LLC purchased a new stake in Phillips 66 during the third quarter valued at approximately $26,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Phillips 66 in the 1st quarter valued at approximately $28,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the topic of several recent analyst reports. Scotiabank reduced their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. TD Cowen dropped their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Wolfe Research started coverage on Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Barclays cut their price objective on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 8th. Finally, Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus target price of $149.50.

Phillips 66 Trading Down 0.6 %

Shares of NYSE:PSX opened at $132.60 on Monday. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $56.22 billion, a PE ratio of 10.20, a P/E/G ratio of 5.75 and a beta of 1.33. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The business’s fifty day simple moving average is $133.18 and its 200-day simple moving average is $140.20.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping the consensus estimate of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. During the same quarter in the previous year, the business posted $3.87 EPS. Phillips 66’s revenue was up 8.9% on a year-over-year basis. As a group, equities research analysts predict that Phillips 66 will post 7.85 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid 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 3.47%. Phillips 66’s payout ratio is 35.38%.

Insider Activity

In related 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 value of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.22% of the company’s stock.

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.