Riverview Trust Co Trims Stock Holdings in Phillips 66 $PSX

Riverview Trust Co trimmed its position in shares of Phillips 66 (NYSE:PSX) by 32.0% during the second quarter, Holdings Channel reports. The firm owned 761 shares of the oil and gas company’s stock after selling 358 shares during the quarter. Riverview Trust Co’s holdings in Phillips 66 were worth $91,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Elliott Investment Management L.P. lifted its holdings in Phillips 66 by 1,929.0% during the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after buying an additional 14,950,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Phillips 66 by 20.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company’s stock worth $19,625,000 after purchasing an additional 26,825 shares in the last quarter. Alta Advisers Ltd acquired a new stake in shares of Phillips 66 in the 1st quarter worth approximately $253,000. Sustainable Insight Capital Management LLC purchased a new position in Phillips 66 during the 1st quarter valued at about $1,457,000. Finally, Evergreen Wealth Solutions LLC purchased a new position in Phillips 66 during the first quarter worth $292,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Gregory Hayes purchased 8,350 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were purchased at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the transaction, the director owned 29,423 shares in the company, valued at $3,527,817.70. This represents a 39.62% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael A. Heim bought 1,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The shares were bought at an average cost of $125.97 per share, for a total transaction of $125,970.00. Following the completion of the transaction, the director directly owned 12,043 shares of the company’s stock, valued at $1,517,056.71. This trade represents a 9.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 9,850 shares of company stock worth $1,188,910 and sold 13,179 shares worth $1,779,165. 0.22% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PSX has been the subject of several analyst reports. Wells Fargo & Company reduced their target price on Phillips 66 from $149.00 to $147.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 11th. JPMorgan Chase & Co. set a $115.00 price objective on Phillips 66 in a research report on Wednesday, June 18th. Wall Street Zen upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Barclays increased their price target on Phillips 66 from $115.00 to $127.00 and gave the company an “equal weight” rating in a report on Wednesday, July 9th. Finally, Compass Point initiated coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $139.44.

Phillips 66 Stock Performance

Shares of PSX stock opened at $134.68 on Thursday. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.35. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The firm has a market capitalization of $54.43 billion, a price-to-earnings ratio of 32.37, a price-to-earnings-growth ratio of 1.97 and a beta of 1.11. The business has a 50 day simple moving average of $128.50 and a 200 day simple moving average of $120.42.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.59. The business had revenue of $33.77 billion for the quarter, compared to analysts’ expectations of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same period in the previous year, the business earned $2.31 earnings per share. On average, equities research analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Tuesday, August 19th. Phillips 66’s dividend payout ratio is 115.38%.

Phillips 66 Company 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.