Legacy Private Trust Co. Buys New Holdings in Phillips 66 (NYSE:PSX)

Legacy Private Trust Co. purchased a new position in shares of Phillips 66 (NYSE:PSX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,250 shares of the oil and gas company’s stock, valued at approximately $215,000.

Other large investors also recently modified their holdings of the company. BlackRock Inc. increased its holdings in Phillips 66 by 0.3% in the first quarter. BlackRock Inc. now owns 37,428,804 shares of the oil and gas company’s stock valued at $3,794,532,000 after buying an additional 102,139 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Phillips 66 by 0.6% in the 4th quarter. Wells Fargo & Company MN now owns 16,802,175 shares of the oil and gas company’s stock valued at $1,748,770,000 after acquiring an additional 98,162 shares during the last quarter. Moneta Group Investment Advisors LLC raised its position in shares of Phillips 66 by 100,843.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 9,979,304 shares of the oil and gas company’s stock worth $1,038,646,000 after acquiring an additional 9,969,418 shares in the last quarter. Wellington Management Group LLP lifted its stake in Phillips 66 by 44.3% during the first quarter. Wellington Management Group LLP now owns 8,623,978 shares of the oil and gas company’s stock worth $874,299,000 after purchasing an additional 2,646,979 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Phillips 66 by 16.2% during the fourth quarter. Morgan Stanley now owns 6,961,625 shares of the oil and gas company’s stock worth $724,566,000 after purchasing an additional 968,055 shares during the last quarter. 71.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on PSX. The Goldman Sachs Group raised their price objective on shares of Phillips 66 from $125.00 to $141.00 and gave the stock a “buy” rating in a report on Friday, September 1st. Bank of America lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $132.00 to $141.00 in a research note on Tuesday, August 15th. TD Cowen raised Phillips 66 from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $110.00 to $123.00 in a report on Thursday, June 1st. Mizuho lifted their target price on Phillips 66 from $118.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 16th. Finally, Wells Fargo & Company upped their target price on Phillips 66 from $130.00 to $144.00 and gave the company an “overweight” rating in a research report on Friday, September 8th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.47.

Phillips 66 Stock Down 1.6 %

Shares of Phillips 66 stock opened at $121.03 on Friday. The company has a market cap of $53.89 billion, a P/E ratio of 5.25, a PEG ratio of 0.42 and a beta of 1.37. The firm has a fifty day moving average of $111.49 and a two-hundred day moving average of $102.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.90 and a current ratio of 1.33. Phillips 66 has a one year low of $74.02 and a one year high of $125.19.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported $3.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.54 by $0.33. Phillips 66 had a net margin of 6.81% and a return on equity of 26.25%. The firm had revenue of $35.74 billion during the quarter, compared to analysts’ expectations of $32.13 billion. During the same period in the prior year, the company posted $6.77 earnings per share. On average, analysts forecast that Phillips 66 will post 15.63 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend was Thursday, August 17th. Phillips 66’s payout ratio is 18.22%.

Insider Buying and Selling at Phillips 66

In other news, EVP Timothy D. Roberts sold 12,970 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $124.41, for a total transaction of $1,613,597.70. Following the transaction, the executive vice president now directly owns 80,009 shares of the company’s stock, valued at approximately $9,953,919.69. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Kevin J. Mitchell sold 30,800 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $120.97, for a total value of $3,725,876.00. Following the completion of the transaction, the chief financial officer now directly owns 103,803 shares of the company’s stock, valued at approximately $12,557,048.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy D. Roberts sold 12,970 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $124.41, for a total value of $1,613,597.70. Following the sale, the executive vice president now owns 80,009 shares in the company, valued at $9,953,919.69. The disclosure for this sale can be found here. Over the last quarter, insiders sold 360,648 shares of company stock valued at $41,396,371. 4.57% of the stock is owned by company insiders.

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.