First Western Trust Bank Has $384,000 Stake in Phillips 66 (NYSE:PSX)

First Western Trust Bank trimmed its holdings in Phillips 66 (NYSE:PSX) by 5.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,025 shares of the oil and gas company’s stock after selling 212 shares during the period. First Western Trust Bank’s holdings in Phillips 66 were worth $384,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PSX. Bornite Capital Management LP acquired a new stake in Phillips 66 during the 1st quarter worth approximately $8,639,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Phillips 66 by 316.2% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,597 shares of the oil and gas company’s stock worth $570,000 after purchasing an additional 5,012 shares during the last quarter. Synovus Financial Corp lifted its holdings in Phillips 66 by 5.1% during the 1st quarter. Synovus Financial Corp now owns 16,257 shares of the oil and gas company’s stock worth $1,405,000 after purchasing an additional 788 shares during the last quarter. Cibc World Market Inc. lifted its holdings in Phillips 66 by 61.9% during the 1st quarter. Cibc World Market Inc. now owns 7,236 shares of the oil and gas company’s stock worth $625,000 after purchasing an additional 2,766 shares during the last quarter. Finally, Blair William & Co. IL lifted its holdings in Phillips 66 by 103.8% during the 1st quarter. Blair William & Co. IL now owns 53,538 shares of the oil and gas company’s stock worth $4,625,000 after purchasing an additional 27,267 shares during the last quarter. 71.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Timothy D. Roberts sold 12,970 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Timothy D. Roberts sold 12,970 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Joseph Scott Pruitt sold 7,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $117.02, for a total value of $819,140.00. Following the completion of the sale, the vice president now owns 6,682 shares in the company, valued at approximately $781,927.64. The disclosure for this sale can be found here. Insiders have sold a total of 50,770 shares of company stock worth $6,158,614 over the last 90 days. Corporate insiders own 4.57% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX opened at $118.11 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.96 and a current ratio of 1.29. The stock has a 50 day moving average price of $115.64 and a two-hundred day moving average price of $107.46. The firm has a market capitalization of $51.96 billion, a P/E ratio of 7.12, a P/E/G ratio of 0.39 and a beta of 1.34. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $125.19.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, October 27th. The oil and gas company reported $4.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.78 by ($0.15). Phillips 66 had a net margin of 5.05% and a return on equity of 23.32%. During the same period in the prior year, the business earned $6.46 earnings per share. Equities analysts forecast that Phillips 66 will post 15.45 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.20 annualized dividend and a dividend yield of 3.56%. Phillips 66’s dividend payout ratio is currently 25.33%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PSX. Mizuho dropped their price objective on Phillips 66 from $131.00 to $116.00 and set a “neutral” rating for the company in a report on Friday, October 6th. The Goldman Sachs Group lifted their price objective on Phillips 66 from $125.00 to $141.00 and gave the company a “buy” rating in a report on Friday, September 1st. Bank of America lifted their price objective on Phillips 66 from $141.00 to $143.00 and gave the company a “neutral” rating in a report on Monday, September 18th. Wells Fargo & Company lifted their price objective on Phillips 66 from $130.00 to $144.00 and gave the company an “overweight” rating in a report on Friday, September 8th. Finally, Tudor, Pickering, Holt & Co. raised Phillips 66 from a “hold” rating to a “buy” rating and lifted their price objective for the company from $115.00 to $130.00 in a report on Monday, October 30th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $132.50.

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.