Peoples Bank OH Sells 150 Shares of Phillips 66 (NYSE:PSX)

Peoples Bank OH lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,324 shares of the oil and gas company’s stock after selling 150 shares during the quarter. Peoples Bank OH’s holdings in Phillips 66 were worth $963,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crewe Advisors LLC bought a new position in shares of Phillips 66 during the first quarter valued at approximately $25,000. Keener Financial Planning LLC bought a new position in Phillips 66 in the first quarter worth $26,000. Redmont Wealth Advisors LLC bought a new position in Phillips 66 in the first quarter worth $28,000. Ruedi Wealth Management Inc. raised its holdings in Phillips 66 by 102.1% in the first quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 96 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in Phillips 66 in the third quarter worth $26,000. Institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.22% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Mizuho decreased their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. TD Cowen cut their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Bank of America assumed coverage on Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective for the company. Barclays cut their target price on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 8th. Finally, Raymond James increased their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.50.

Phillips 66 Stock Performance

Phillips 66 stock traded down $1.10 during midday trading on Thursday, reaching $128.02. 1,082,275 shares of the company traded hands, compared to its average volume of 2,664,955. The firm has a market capitalization of $54.27 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 5.68 and a beta of 1.33. The business has a 50 day moving average of $132.85 and a two-hundred day moving average of $139.57. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data 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 the consensus estimate of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.87 earnings per share. As a group, research analysts predict that Phillips 66 will post 7.81 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.59%. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

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.