German American Bancorp Inc. Sells 2,491 Shares of Phillips 66 $PSX

German American Bancorp Inc. reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 8.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,031 shares of the oil and gas company’s stock after selling 2,491 shares during the quarter. German American Bancorp Inc.’s holdings in Phillips 66 were worth $4,742,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Board of the Pension Protection Fund acquired a new stake in shares of Phillips 66 in the 4th quarter worth about $26,000. Accordant Advisory Group Inc boosted 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 valued at $26,000 after purchasing an additional 180 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in Phillips 66 during the 4th quarter valued at about $27,000. NFSG Corp increased its holdings in Phillips 66 by 105.6% during the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Finally, SWAN Capital LLC increased its holdings in Phillips 66 by 1,055.6% during the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 190 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Price Performance

Phillips 66 stock opened at $206.96 on Friday. Phillips 66 has a 52 week low of $118.07 and a 52 week high of $207.14. The company’s 50 day moving average price is $179.03 and its two-hundred day moving average price is $165.49. The stock has a market cap of $82.97 billion, a P/E ratio of 20.39, a P/E/G ratio of 0.26 and a beta of 0.69. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $35.86 billion. During the same period last year, the business posted ($0.90) earnings per share. Phillips 66’s revenue was up 6.9% on a year-over-year basis. On average, equities analysts predict that Phillips 66 will post 19.84 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.5%. Phillips 66’s dividend payout ratio (DPR) is currently 50.05%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Mizuho upgraded Phillips 66 from a “neutral” rating to an “outperform” rating and raised their target price for the company from $170.00 to $212.00 in a report on Wednesday, May 27th. Scotiabank upped their price target on Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Zacks Research lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. TD Cowen raised their price objective on Phillips 66 from $213.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Finally, Barclays lifted their price objective on shares of Phillips 66 from $177.00 to $183.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $196.06.

Insiders Place Their Bets

In related news, Director Kevin Omar Meyers acquired 175 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was acquired at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the acquisition, the director owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This represents a 1.05% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin J. Mitchell sold 11,021 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the completion of the transaction, the chief financial officer owned 97,376 shares in the company, valued at approximately $18,504,361.28. The trade was a 10.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 41,021 shares of company stock worth $7,195,257 over the last quarter. Company insiders own 0.40% of the company’s stock.

About Phillips 66

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.