Adirondack Trust Co. Has $1.48 Million Stake in Phillips 66 (NYSE:PSX)

Adirondack Trust Co. trimmed its position in shares of Phillips 66 (NYSE:PSX) by 1.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 10,402 shares of the oil and gas company’s stock after selling 190 shares during the period. Adirondack Trust Co.’s holdings in Phillips 66 were worth $1,482,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Phillips 66 in the fourth quarter valued at $27,000. First United Bank & Trust acquired a new position in shares of Phillips 66 in the fourth quarter valued at $31,000. Signature Resources Capital Management LLC acquired a new position in shares of Phillips 66 in the fourth quarter valued at $33,000. Bruce G. Allen Investments LLC acquired a new position in shares of Phillips 66 in the fourth quarter valued at $36,000. Finally, Gladius Capital Management LP acquired a new position in shares of Phillips 66 in the fourth quarter valued at $36,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PSX shares. Bank of America upped their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Scotiabank upped their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Barclays decreased their price target on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 30th. Wells Fargo & Company upped their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Raymond James decreased their price target on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.57.

Phillips 66 Trading Down 0.2 %

NYSE:PSX traded down $0.22 during mid-day trading on Tuesday, hitting $137.07. 548,382 shares of the company’s stock were exchanged, compared to its average volume of 2,716,934. The company has a 50 day simple moving average of $146.82 and a 200-day simple moving average of $144.07. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $174.08. The firm has a market capitalization of $58.11 billion, a P/E ratio of 10.56, a PEG ratio of 1.87 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. 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. As a group, research analysts expect that Phillips 66 will post 12.16 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were given a dividend of $1.15 per share. The ex-dividend date was Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 3.36%. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Insider Buying and Selling

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the transaction, the executive vice president now owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction on 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 completion of the sale, the vice president now owns 6,583 shares in the company, valued at approximately $1,035,242.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the sale, the executive vice president now owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The disclosure for this sale can be found here. 0.22% of the stock is owned by corporate insiders.

About Phillips 66

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.