TNB Financial Has $262,000 Stake in Phillips 66 (PSX)
TNB Financial reduced its stake in shares of Phillips 66 (NYSE:PSX) by 29.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,592 shares of the oil and gas company’s stock after selling 1,066 shares during the period. TNB Financial’s holdings in Phillips 66 were worth $262,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of the company. Cypress Wealth Services LLC purchased a new position in shares of Phillips 66 during the 4th quarter valued at about $810,000. Main Street Research LLC lifted its position in shares of Phillips 66 by 1.3% during the 4th quarter. Main Street Research LLC now owns 119,322 shares of the oil and gas company’s stock valued at $12,069,000 after buying an additional 1,506 shares in the last quarter. Calton & Associates Inc. purchased a new position in shares of Phillips 66 during the 4th quarter valued at about $422,000. Bray Capital Advisors purchased a new position in shares of Phillips 66 during the 4th quarter valued at about $218,000. Finally, Broderick Brian C lifted its position in shares of Phillips 66 by 18.7% during the 4th quarter. Broderick Brian C now owns 3,804 shares of the oil and gas company’s stock valued at $385,000 after buying an additional 600 shares in the last quarter. 70.17% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Phillips 66 (NYSE:PSX) opened at $95.61 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.31 and a debt-to-equity ratio of 0.40. Phillips 66 has a 12 month low of $75.14 and a 12 month high of $107.47. The stock has a market capitalization of $48,633.76, a P/E ratio of 9.63, a price-to-earnings-growth ratio of 1.60 and a beta of 1.11.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Tuesday, February 20th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.93%. Phillips 66’s payout ratio is 28.20%.
In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 2,700 shares of Phillips 66 stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $100.25, for a total value of $270,675.00. Following the sale, the vice president now owns 2,700 shares of the company’s stock, valued at approximately $270,675. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.
A number of research firms have recently weighed in on PSX. Scotiabank reaffirmed a “buy” rating and set a $112.00 price objective on shares of Phillips 66 in a research report on Wednesday, January 10th. Barclays reissued a “sell” rating and set a $111.00 target price on shares of Phillips 66 in a research note on Wednesday, January 10th. Royal Bank of Canada reissued a “hold” rating and set a $106.00 target price on shares of Phillips 66 in a research note on Tuesday, January 30th. Citigroup decreased their target price on Phillips 66 from $110.00 to $103.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Vetr raised Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 target price on the stock in a research note on Monday, October 16th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $101.64.
ILLEGAL ACTIVITY WARNING: This piece of content was posted by Watch List News and is owned by of Watch List News. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of United States & international copyright and trademark laws. The legal version of this piece of content can be read at https://www.watchlistnews.com/tnb-financial-has-262000-stake-in-phillips-66-psx/1852229.html.
About Phillips 66
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX).
Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.