Phillips 66 (NYSE:PSX) Shares Sold by CENTRAL TRUST Co

CENTRAL TRUST Co cut its holdings in Phillips 66 (NYSE:PSX) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,085 shares of the oil and gas company’s stock after selling 592 shares during the quarter. CENTRAL TRUST Co’s holdings in Phillips 66 were worth $3,692,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PSX. Great Lakes Retirement Inc. increased its position in Phillips 66 by 1.2% during the third quarter. Great Lakes Retirement Inc. now owns 10,413 shares of the oil and gas company’s stock worth $1,369,000 after buying an additional 127 shares in the last quarter. Wallington Asset Management LLC raised its stake in Phillips 66 by 2.9% in the 3rd quarter. Wallington Asset Management LLC now owns 134,175 shares of the oil and gas company’s stock valued at $17,637,000 after purchasing an additional 3,776 shares during the last quarter. Greenleaf Trust lifted its holdings in Phillips 66 by 4.4% in the 3rd quarter. Greenleaf Trust now owns 11,353 shares of the oil and gas company’s stock valued at $1,492,000 after purchasing an additional 481 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Phillips 66 by 2.8% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 24,300 shares of the oil and gas company’s stock worth $3,195,000 after purchasing an additional 651 shares during the last quarter. Finally, Segment Wealth Management LLC grew its holdings in shares of Phillips 66 by 1.7% during the third quarter. Segment Wealth Management LLC now owns 10,205 shares of the oil and gas company’s stock worth $1,341,000 after buying an additional 174 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction dated Thursday, August 15th. The stock was 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 of the company’s stock, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of analyst reports. Mizuho decreased their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Bank of America initiated coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price for the company. TD Cowen lowered their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Barclays cut their price objective on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 8th. Finally, Piper Sandler set a $144.00 target price on shares of Phillips 66 in a report on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and an average price target of $149.50.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $128.49 on Friday. The business’s 50-day simple moving average is $132.85 and its 200 day simple moving average is $139.57. The company has a market cap of $53.78 billion, a P/E ratio of 11.02, a PEG ratio of 5.61 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 has a one year low of $107.85 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.87 earnings per share. On average, sell-side analysts forecast that Phillips 66 will post 7.81 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.58%. Phillips 66’s payout ratio is currently 39.45%.

Phillips 66 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.