Colonial Trust Co SC Has $3.59 Million Position in Phillips 66 $PSX

Colonial Trust Co SC reduced its position in shares of Phillips 66 (NYSE:PSX) by 9.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,794 shares of the oil and gas company’s stock after selling 3,004 shares during the period. Colonial Trust Co SC’s holdings in Phillips 66 were worth $3,587,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Board of the Pension Protection Fund acquired a new stake in Phillips 66 during the 4th quarter worth approximately $26,000. Accordant Advisory Group Inc increased its stake in Phillips 66 by 900.0% during the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 180 shares during the period. Eagle Bay Advisors LLC bought a new position in Phillips 66 during the 4th quarter worth $27,000. Stephens Consulting LLC increased its stake in Phillips 66 by 67.7% during the 4th quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 90 shares during the period. Finally, Dorato Capital Management bought a new position in Phillips 66 during the 4th quarter worth $35,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Barclays raised their price objective on Phillips 66 from $158.00 to $177.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 8th. Wells Fargo & Company raised their price objective on Phillips 66 from $163.00 to $201.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Mizuho upgraded Phillips 66 from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $170.00 to $212.00 in a research note on Wednesday, May 27th. Guggenheim upgraded Phillips 66 to an “outperform” rating in a research note on Wednesday, May 27th. Finally, Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $191.44.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Kevin Omar Meyers purchased 175 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were bought at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the purchase, the director owned 16,799 shares in the company, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin J. Mitchell sold 29,400 shares of Phillips 66 stock in a transaction on Friday, May 8th. The shares were sold at an average price of $170.00, for a total value of $4,998,000.00. Following the completion of the transaction, the chief financial officer owned 97,376 shares in the company, valued at approximately $16,553,920. The trade was a 23.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 45,629 shares of company stock worth $8,071,540. Corporate insiders own 0.40% of the company’s stock.

Phillips 66 Trading Down 1.9%

Shares of PSX opened at $178.23 on Friday. Phillips 66 has a 52-week low of $118.00 and a 52-week high of $190.61. The business’s fifty day moving average is $172.41 and its 200-day moving average is $157.59. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. The firm has a market cap of $71.46 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 0.27 and a beta of 0.68.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same quarter last year, the company posted ($0.90) EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities analysts anticipate that Phillips 66 will post 17.64 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were paid a $1.27 dividend. The ex-dividend date was Monday, May 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.9%. Phillips 66’s dividend payout ratio (DPR) is presently 50.05%.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.