First National Bank of Mount Dora Trust Investment Services cut its position in shares of Phillips 66 (NYSE:PSX) by 21.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,278 shares of the oil and gas company’s stock after selling 10,755 shares during the period. Phillips 66 comprises 1.8% of First National Bank of Mount Dora Trust Investment Services’ portfolio, making the stock its 26th biggest position. First National Bank of Mount Dora Trust Investment Services’ holdings in Phillips 66 were worth $3,920,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Advisors Preferred LLC purchased a new position in shares of Phillips 66 in the 2nd quarter valued at $25,000. TRUE Private Wealth Advisors purchased a new position in shares of Phillips 66 in the 2nd quarter valued at $26,000. Manchester Financial Inc. purchased a new position in shares of Phillips 66 in the 2nd quarter valued at $32,000. Coastal Capital Group Inc. purchased a new position in shares of Phillips 66 in the 2nd quarter valued at $37,000. Finally, Sound Income Strategies LLC increased its holdings in shares of Phillips 66 by 74.8% in the 3rd quarter. Sound Income Strategies LLC now owns 395 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 169 shares during the period. 68.71% of the stock is owned by institutional investors and hedge funds.
Phillips 66 stock traded up $2.06 during trading hours on Wednesday, hitting $102.88. 5,643 shares of the stock traded hands, compared to its average volume of 2,631,317. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.28 and a quick ratio of 0.82. The firm’s 50 day moving average price is $100.72 and its 200-day moving average price is $95.25. The stock has a market capitalization of $45.24 billion, a price-to-earnings ratio of 8.79, a P/E/G ratio of 2.07 and a beta of 1.07. Phillips 66 has a 1 year low of $78.44 and a 1 year high of $119.14.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a dividend of $0.90 per share. The ex-dividend date is Friday, November 15th. This represents a $3.60 annualized dividend and a yield of 3.50%. Phillips 66’s payout ratio is presently 30.74%.
PSX has been the topic of several research analyst reports. Wells Fargo & Co boosted their target price on Phillips 66 from $130.00 to $132.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. dropped their target price on Phillips 66 from $126.00 to $115.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 10th. Cowen boosted their target price on Phillips 66 from $112.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. ValuEngine upgraded Phillips 66 from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Raymond James boosted their target price on Phillips 66 from $117.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Phillips 66 currently has an average rating of “Buy” and an average price target of $113.80.
In other Phillips 66 news, EVP Robert A. Herman sold 47,433 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $103.17, for a total transaction of $4,893,662.61. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.13% of the stock is currently owned by insiders.
About Phillips 66
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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