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

CENTRAL TRUST Co lessened its position in shares of Phillips 66 (NYSE:PSX) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,079 shares of the oil and gas company’s stock after selling 451 shares during the quarter. CENTRAL TRUST Co’s holdings in Phillips 66 were worth $4,750,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP boosted its stake in shares of Phillips 66 by 20.3% in the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock worth $1,451,643,000 after buying an additional 1,842,226 shares during the last quarter. Barclays PLC raised its holdings in Phillips 66 by 4.2% in the 3rd quarter. Barclays PLC now owns 7,760,709 shares of the oil and gas company’s stock worth $932,447,000 after purchasing an additional 309,239 shares during the period. Morgan Stanley raised its holdings in Phillips 66 by 2.1% in the 3rd quarter. Morgan Stanley now owns 6,768,960 shares of the oil and gas company’s stock worth $813,291,000 after purchasing an additional 138,646 shares during the period. Northern Trust Corp raised its holdings in Phillips 66 by 6.2% in the 3rd quarter. Northern Trust Corp now owns 4,881,094 shares of the oil and gas company’s stock worth $586,463,000 after purchasing an additional 283,010 shares during the period. Finally, Norges Bank acquired a new position in Phillips 66 in the 4th quarter worth about $559,435,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 0.9 %

NYSE PSX traded down $1.24 during trading hours on Wednesday, hitting $142.90. The company had a trading volume of 2,440,192 shares, compared to its average volume of 2,836,946. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $174.08. The company has a market capitalization of $60.58 billion, a price-to-earnings ratio of 10.99, a P/E/G ratio of 1.96 and a beta of 1.41. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. The firm’s 50 day moving average is $155.14 and its 200 day moving average is $141.08.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The business had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. During the same quarter in the prior year, the business earned $4.21 earnings per share. Sell-side analysts anticipate that Phillips 66 will post 12.26 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a yield of 3.22%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Insider Activity

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the transaction, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the transaction, the vice president now directly owns 6,583 shares in the company, valued at $1,035,242.58. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the transaction, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,864 shares of company stock valued at $7,567,178. Insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PSX. Wells Fargo & Company upped their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Citigroup initiated coverage on shares of Phillips 66 in a research note on Wednesday, January 24th. They issued a “buy” rating on the stock. Mizuho dropped their target price on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Finally, Scotiabank raised their price target on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $156.21.

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.