Town & Country Bank & Trust CO dba First Bankers Trust CO Trims Stock Holdings in Phillips 66 (NYSE:PSX)

Town & Country Bank & Trust CO dba First Bankers Trust CO lessened its stake in shares of Phillips 66 (NYSE:PSX) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,644 shares of the oil and gas company’s stock after selling 100 shares during the quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings in Phillips 66 were worth $252,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PSX. Moneta Group Investment Advisors LLC raised its stake in shares of Phillips 66 by 100,843.8% during the fourth 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 purchasing an additional 9,969,418 shares during the last quarter. Norges Bank purchased a new stake in shares of Phillips 66 during the fourth quarter worth approximately $364,237,000. Wellington Management Group LLP raised its stake in shares of Phillips 66 by 62.1% during the first quarter. Wellington Management Group LLP now owns 7,188,087 shares of the oil and gas company’s stock worth $620,979,000 after purchasing an additional 2,753,700 shares during the last quarter. HRT Financial LP purchased a new stake in shares of Phillips 66 during the first quarter worth approximately $99,355,000. Finally, Morgan Stanley grew its holdings 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 acquiring an additional 968,055 shares during the period. Hedge funds and other institutional investors own 71.83% of the company’s stock.

Phillips 66 Trading Down 1.6 %

NYSE PSX traded down $1.94 during trading hours on Friday, hitting $121.03. 9,312,919 shares of the company’s stock were exchanged, compared to its average volume of 2,609,940. The business’s 50 day moving average is $111.93 and its 200-day moving average is $102.61. Phillips 66 has a 12-month low of $74.02 and a 12-month high of $125.19. The firm has a market capitalization of $53.89 billion, a P/E ratio of 5.25, a price-to-earnings-growth ratio of 0.42 and a beta of 1.37. 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 (NYSE:PSX) last released its earnings results on Wednesday, August 2nd. The oil and gas company reported $3.87 earnings per share for the quarter, topping the consensus estimate of $3.54 by $0.33. Phillips 66 had a return on equity of 26.25% and a net margin of 6.81%. The firm had revenue of $35.74 billion for the quarter, compared to the consensus estimate of $32.13 billion. During the same period in the prior year, the business posted $6.77 earnings per share. As a group, analysts anticipate that Phillips 66 will post 15.63 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were issued a $1.05 dividend. The ex-dividend date was Thursday, August 17th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.47%. Phillips 66’s dividend payout ratio (DPR) is 18.22%.

Insider Transactions at Phillips 66

In other news, VP Joseph Scott Pruitt sold 7,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $117.02, for a total value of $819,140.00. Following the transaction, the vice president now directly owns 6,682 shares in the company, valued at approximately $781,927.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Joseph Scott Pruitt sold 7,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $117.02, for a total value of $819,140.00. Following the transaction, the vice president now directly owns 6,682 shares in the company, valued at approximately $781,927.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Timothy D. Roberts sold 12,970 shares of the firm’s stock in a transaction dated 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 completion of the transaction, 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. Insiders have sold a total of 360,648 shares of company stock worth $41,396,371 in the last three months. 4.57% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PSX shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $125.00 price objective on shares of Phillips 66 in a report on Wednesday, July 19th. Argus upped their price objective on Phillips 66 from $125.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, August 14th. Piper Sandler upped their price objective on Phillips 66 from $130.00 to $136.00 in a report on Friday, August 4th. The Goldman Sachs Group upped their price objective on Phillips 66 from $125.00 to $141.00 and gave the stock a “buy” rating in a report on Friday, September 1st. Finally, StockNews.com began coverage on Phillips 66 in a report on Thursday, August 17th. They set a “hold” rating on the stock. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $129.47.

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.