Trustmark National Bank Trust Department Lowers Position in Phillips 66 (NYSE:PSX)

Trustmark National Bank Trust Department trimmed its holdings in shares of Phillips 66 (NYSE:PSX) by 36.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,749 shares of the oil and gas company’s stock after selling 2,755 shares during the period. Trustmark National Bank Trust Department’s holdings in Phillips 66 were worth $541,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Morse Asset Management Inc bought a new position in shares of Phillips 66 in the third quarter worth approximately $493,000. Invst LLC grew its stake in Phillips 66 by 2.4% in the 3rd quarter. Invst LLC now owns 6,201 shares of the oil and gas company’s stock worth $815,000 after buying an additional 145 shares in the last quarter. Advisory Resource Group increased its holdings in shares of Phillips 66 by 4.3% in the 3rd quarter. Advisory Resource Group now owns 241,527 shares of the oil and gas company’s stock worth $31,749,000 after buying an additional 9,930 shares during the last quarter. World Investment Advisors LLC purchased a new stake in shares of Phillips 66 during the 3rd quarter valued at $796,000. Finally, Arvest Bank Trust Division bought a new stake in shares of Phillips 66 during the 3rd quarter worth $1,008,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

PSX stock opened at $97.86 on Tuesday. The stock has a market capitalization of $39.90 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 4.84 and a beta of 1.17. The firm’s 50-day moving average price is $120.45 and its two-hundred day moving average price is $123.27. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $165.00.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the business posted $3.09 EPS. As a group, equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s payout ratio is 93.12%.

Analyst Ratings Changes

A number of research analysts recently commented on PSX shares. Scotiabank reduced their target price on Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday. The Goldman Sachs Group cut Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective on the stock. in a report on Thursday, March 27th. Barclays cut their target price on Phillips 66 from $135.00 to $106.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company upped 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. 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.00.

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.