Phillips 66 (NYSE:PSX) Shares Bought by Community Bank N.A.

Community Bank N.A. boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 11.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,578 shares of the oil and gas company’s stock after purchasing an additional 1,102 shares during the period. Community Bank N.A.’s holdings in Phillips 66 were worth $760,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Somerset Trust Co increased its holdings in shares of Phillips 66 by 6.5% in the second quarter. Somerset Trust Co now owns 20,556 shares of the oil and gas company’s stock valued at $1,478,000 after buying an additional 1,249 shares in the last quarter. HNP Capital LLC acquired a new stake in shares of Phillips 66 during the second quarter worth $242,000. Busey Wealth Management purchased a new stake in shares of Phillips 66 during the second quarter valued at $254,000. Raymond James Trust N.A. boosted its position in shares of Phillips 66 by 16.5% in the 1st quarter. Raymond James Trust N.A. now owns 86,809 shares of the oil and gas company’s stock valued at $4,657,000 after purchasing an additional 12,290 shares during the period. Finally, Franklin Resources Inc. increased its stake in Phillips 66 by 19.4% in the 4th quarter. Franklin Resources Inc. now owns 246,917 shares of the oil and gas company’s stock worth $27,509,000 after purchasing an additional 40,182 shares in the last quarter. Hedge funds and other institutional investors own 66.79% of the company’s stock.

In other news, Director Gary Kramer Adams bought 1,250 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was purchased at an average price of $76.40 per share, with a total value of $95,500.00. Following the transaction, the director now directly owns 10,213 shares in the company, valued at $780,273.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John E. Lowe purchased 1,500 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were purchased at an average price of $68.43 per share, with a total value of $102,645.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 3,750 shares of company stock valued at $268,305. Corporate insiders own 0.63% of the company’s stock.

Shares of Phillips 66 stock traded down $1.07 during midday trading on Friday, reaching $62.02. 5,835,880 shares of the company’s stock traded hands, compared to its average volume of 2,862,574. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.61 and a current ratio of 1.11. Phillips 66 has a 52 week low of $40.04 and a 52 week high of $119.92. The company’s 50 day simple moving average is $67.98 and its 200 day simple moving average is $73.22. The company has a market cap of $27.08 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 6.42 and a beta of 1.60.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, July 31st. The oil and gas company reported ($0.74) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.55). Phillips 66 had a net margin of 0.35% and a return on equity of 14.90%. The company had revenue of $11.18 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same quarter last year, the business earned $3.02 earnings per share. As a group, equities research analysts predict that Phillips 66 will post 1.83 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date of this dividend is Monday, August 17th. Phillips 66’s payout ratio is 44.72%.

Several brokerages have commented on PSX. Wolfe Research cut shares of Phillips 66 from an “outperform” rating to a “peer perform” rating and set a $98.00 target price for the company. in a report on Wednesday, May 13th. Mizuho lowered their price objective on shares of Phillips 66 from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. ValuEngine upgraded Phillips 66 from a “sell” rating to a “hold” rating in a report on Monday, June 1st. Piper Sandler decreased their target price on Phillips 66 from $91.00 to $87.00 and set an “overweight” rating for the company in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. upped their price target on Phillips 66 from $77.00 to $98.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $83.47.

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

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