Heritage Trust Co Buys Shares of 37,700 Phillips 66 (NYSE:PSX)

Heritage Trust Co acquired a new position in Phillips 66 (NYSE:PSX) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 37,700 shares of the oil and gas company’s stock, valued at approximately $4,295,000.

Other large investors have also modified their holdings of the company. F M Investments LLC grew its position in Phillips 66 by 25.8% in the 4th quarter. F M Investments LLC now owns 17,788 shares of the oil and gas company’s stock worth $2,027,000 after purchasing an additional 3,646 shares during the last quarter. DRW Securities LLC grew its holdings in Phillips 66 by 14.0% in the 4th quarter. DRW Securities LLC now owns 1,927 shares of the oil and gas company’s stock worth $220,000 after buying an additional 237 shares in the last quarter. Texas Yale Capital Corp. increased its position in Phillips 66 by 0.4% in the 4th quarter. Texas Yale Capital Corp. now owns 51,023 shares of the oil and gas company’s stock valued at $5,813,000 after acquiring an additional 210 shares during the period. Advisory Services Network LLC raised its stake in Phillips 66 by 7.7% during the 4th quarter. Advisory Services Network LLC now owns 82,245 shares of the oil and gas company’s stock valued at $9,370,000 after acquiring an additional 5,883 shares in the last quarter. Finally, Applied Finance Capital Management LLC boosted its position in Phillips 66 by 15.8% during the 4th quarter. Applied Finance Capital Management LLC now owns 9,439 shares of the oil and gas company’s stock worth $1,075,000 after acquiring an additional 1,287 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PSX shares. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a report on Friday, January 3rd. Mizuho lowered their target price on shares of Phillips 66 from $140.00 to $132.00 and set a “neutral” rating on the stock in a research note on Wednesday. Barclays dropped their price target on shares of Phillips 66 from $135.00 to $106.00 and set an “equal weight” rating on the stock in a research report on Thursday. Wells Fargo & Company raised their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $142.21.

Phillips 66 Trading Down 6.3 %

Shares of NYSE PSX opened at $96.61 on Friday. The business has a fifty day simple moving average of $121.48 and a 200-day simple moving average of $123.78. The company has a market cap of $39.39 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 4.84 and a beta of 1.17. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $166.47. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter last year, the firm earned $3.09 earnings per share. Sell-side analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s payout ratio is 93.12%.

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.