Bank of New Hampshire Increases Holdings in Phillips 66 (NYSE:PSX)

Bank of New Hampshire lifted its position in shares of Phillips 66 (NYSE:PSX) by 8.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,892 shares of the oil and gas company’s stock after acquiring an additional 150 shares during the quarter. Bank of New Hampshire’s holdings in Phillips 66 were worth $267,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale raised its position in shares of Phillips 66 by 12.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after purchasing an additional 22,278 shares during the last quarter. TIAA Trust National Association raised its holdings in Phillips 66 by 32.9% in the 4th quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock valued at $1,973,000 after acquiring an additional 3,670 shares during the last quarter. Duality Advisers LP acquired a new position in Phillips 66 in the 1st quarter valued at $3,596,000. Daiwa Securities Group Inc. raised its holdings in Phillips 66 by 27.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock valued at $6,470,000 after acquiring an additional 10,536 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Phillips 66 by 42.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock valued at $21,844,000 after acquiring an additional 39,775 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the transaction, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Stock Performance

Shares of PSX traded down $7.19 during mid-day trading on Friday, reaching $133.76. 4,078,997 shares of the company’s stock traded hands, compared to its average volume of 2,094,396. The business’s 50-day moving average price is $138.97 and its 200-day moving average price is $145.84. The stock has a market capitalization of $55.99 billion, a P/E ratio of 10.29, a price-to-earnings-growth ratio of 2.50 and a beta of 1.34. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.82 and a current ratio of 1.14. Phillips 66 has a 12 month low of $107.41 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.87 earnings per share. Equities analysts predict that Phillips 66 will post 9.4 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.44%. Phillips 66’s payout ratio is 35.38%.

Analyst Ratings Changes

PSX has been the subject of a number of research analyst reports. Argus restated a “buy” rating and set a $167.00 price objective on shares of Phillips 66 in a report on Thursday, May 30th. Raymond James upped their price objective on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. dropped their price objective on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Mizuho dropped their price objective on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. Finally, Wolfe Research initiated coverage on Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $157.23.

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.