First National Trust Co Decreases Position in Phillips 66 (NYSE:PSX)

First National Trust Co reduced its position in shares of Phillips 66 (NYSE:PSX) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,375 shares of the oil and gas company’s stock after selling 249 shares during the period. First National Trust Co’s holdings in Phillips 66 were worth $1,182,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Mizuho Securities USA LLC raised its holdings in Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after acquiring an additional 2,467,316 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $168,790,000. Amundi increased its holdings in shares of Phillips 66 by 25.7% in the fourth quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock valued at $428,081,000 after purchasing an additional 753,653 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Phillips 66 by 7.3% during the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after buying an additional 639,323 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in Phillips 66 by 63.4% during the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after buying an additional 633,970 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Barclays boosted their target price on shares of Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a report on Friday. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Mizuho decreased their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Finally, Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $149.43.

Phillips 66 Trading Up 3.5 %

PSX opened at $126.84 on Friday. The business has a fifty day moving average price of $122.82 and a 200 day moving average price of $126.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 12 month low of $108.91 and a 12 month high of $174.08. The stock has a market capitalization of $51.71 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period last year, the company earned $3.09 EPS. Sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend payout ratio is presently 93.12%.

Phillips 66 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.