First National Bank & Trust Co. of Newtown Sells 90 Shares of Phillips 66 $PSX

First National Bank & Trust Co. of Newtown lessened its stake in shares of Phillips 66 (NYSE:PSX) by 1.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,678 shares of the oil and gas company’s stock after selling 90 shares during the period. First National Bank & Trust Co. of Newtown’s holdings in Phillips 66 were worth $677,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pure Financial Advisors LLC grew its stake in shares of Phillips 66 by 13.7% during the second quarter. Pure Financial Advisors LLC now owns 2,268 shares of the oil and gas company’s stock worth $271,000 after buying an additional 273 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Phillips 66 by 93.3% during the second quarter. Robeco Institutional Asset Management B.V. now owns 3,551 shares of the oil and gas company’s stock worth $424,000 after buying an additional 1,714 shares during the last quarter. QTR Family Wealth LLC grew its stake in shares of Phillips 66 by 5.2% during the second quarter. QTR Family Wealth LLC now owns 2,646 shares of the oil and gas company’s stock worth $316,000 after buying an additional 130 shares during the last quarter. Trust Co. of Vermont grew its stake in shares of Phillips 66 by 4.6% during the second quarter. Trust Co. of Vermont now owns 4,562 shares of the oil and gas company’s stock worth $544,000 after buying an additional 202 shares during the last quarter. Finally, Impact Capital Partners LLC grew its stake in shares of Phillips 66 by 2.1% during the second quarter. Impact Capital Partners LLC now owns 7,553 shares of the oil and gas company’s stock worth $901,000 after buying an additional 153 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In related news, Director Gregory Hayes purchased 8,350 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was purchased at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the purchase, the director owned 29,423 shares in the company, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction on Friday, September 26th. The shares were sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the sale, the executive vice president directly owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. This trade represents a 11.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders bought 9,850 shares of company stock valued at $1,188,910 and sold 13,179 shares valued at $1,779,165. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

PSX stock opened at $134.68 on Thursday. The firm has a market cap of $54.43 billion, a price-to-earnings ratio of 32.37, a PEG ratio of 1.97 and a beta of 1.11. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.35. The company’s fifty day simple moving average is $128.50 and its 200 day simple moving average is $120.42.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The business had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. During the same quarter in the previous year, the business earned $2.31 earnings per share. On average, analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Phillips 66’s payout ratio is 115.38%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PSX. Cantor Fitzgerald began coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set a “neutral” rating on the stock. Bank of America lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $144.00 to $147.00 in a report on Wednesday, September 3rd. Mizuho lifted their price target on shares of Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Monday, September 15th. Argus upgraded shares of Phillips 66 to a “strong-buy” rating in a report on Thursday, July 31st. Finally, UBS Group lifted their price target on shares of Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $139.44.

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.