Charter Trust Co. Sells 749 Shares of Phillips 66 (NYSE:PSX)

Charter Trust Co. trimmed its position in Phillips 66 (NYSE:PSX) by 7.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,546 shares of the oil and gas company’s stock after selling 749 shares during the quarter. Charter Trust Co.’s holdings in Phillips 66 were worth $908,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Harvest Group Wealth Management LLC bought a new stake in Phillips 66 in the 1st quarter valued at $31,000. Proficio Capital Partners LLC raised its holdings in Phillips 66 by 46.1% in the 4th quarter. Proficio Capital Partners LLC now owns 434 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 137 shares in the last quarter. Burt Wealth Advisors raised its holdings in Phillips 66 by 285.7% in the 1st quarter. Burt Wealth Advisors now owns 405 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 300 shares in the last quarter. Truehand Inc acquired a new position in Phillips 66 in the 4th quarter valued at $40,000. Finally, Sontag Advisory LLC acquired a new position in Phillips 66 in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 70.02% of the company’s stock.

In other news, Director John E. Lowe acquired 2,000 shares of Phillips 66 stock in a transaction on Tuesday, May 28th. The stock was acquired at an average cost of $82.91 per share, with a total value of $165,820.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.

A number of equities analysts have recently commented on PSX shares. Jefferies Financial Group cut Phillips 66 from a “buy” rating to a “hold” rating and boosted their price target for the stock from $105.00 to $107.00 in a report on Monday, April 15th. Citigroup boosted their price target on Phillips 66 from $100.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. ValuEngine cut Phillips 66 from a “hold” rating to a “sell” rating in a report on Monday, April 15th. Bank of America upgraded Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 price objective on the stock in a research report on Monday, April 29th. They noted that the move was a valuation call. Finally, Morgan Stanley reduced their price objective on Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Friday, May 17th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Phillips 66 currently has a consensus rating of “Buy” and a consensus price target of $118.73.

PSX stock traded up $1.79 during trading on Friday, reaching $93.54. 4,311,691 shares of the stock were exchanged, compared to its average volume of 2,735,440. The firm has a market capitalization of $41.94 billion, a price-to-earnings ratio of 7.99, a P/E/G ratio of 1.57 and a beta of 0.99. Phillips 66 has a twelve month low of $78.44 and a twelve month high of $123.97. The business’s 50 day simple moving average is $85.82. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.42.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.34 by $0.06. The firm had revenue of $23.66 billion during the quarter, compared to the consensus estimate of $24.66 billion. Phillips 66 had a return on equity of 19.96% and a net margin of 4.63%. During the same period in the prior year, the business posted $1.04 earnings per share. As a group, sell-side analysts predict that Phillips 66 will post 6.96 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.85%. This is an increase from Phillips 66’s previous quarterly dividend of $0.80. The ex-dividend date was Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is presently 30.74%.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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