Peoples Bank OH Sells 150 Shares of Phillips 66 $PSX

Peoples Bank OH reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 2.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 6,289 shares of the oil and gas company’s stock after selling 150 shares during the period. Peoples Bank OH’s holdings in Phillips 66 were worth $750,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. 111 Capital bought a new position in Phillips 66 in the second quarter valued at about $303,000. ZWJ Investment Counsel Inc. boosted its stake in shares of Phillips 66 by 6.2% during the second quarter. ZWJ Investment Counsel Inc. now owns 285,629 shares of the oil and gas company’s stock valued at $34,076,000 after purchasing an additional 16,573 shares in the last quarter. Segment Wealth Management LLC boosted its stake in shares of Phillips 66 by 1.6% during the second quarter. Segment Wealth Management LLC now owns 13,922 shares of the oil and gas company’s stock valued at $1,661,000 after purchasing an additional 222 shares in the last quarter. Stock Yards Bank & Trust Co. boosted its stake in shares of Phillips 66 by 1.2% during the second quarter. Stock Yards Bank & Trust Co. now owns 18,880 shares of the oil and gas company’s stock valued at $2,252,000 after purchasing an additional 224 shares in the last quarter. Finally, Abundance Wealth Counselors boosted its stake in shares of Phillips 66 by 1.6% during the second quarter. Abundance Wealth Counselors now owns 5,467 shares of the oil and gas company’s stock valued at $652,000 after purchasing an additional 88 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Trading Down 1.3%

NYSE PSX opened at $133.14 on Friday. The business has a 50 day simple moving average of $128.89 and a 200 day simple moving average of $120.49. Phillips 66 has a one year low of $91.01 and a one year high of $142.35. The stock has a market capitalization of $53.80 billion, a P/E ratio of 32.00, a P/E/G ratio of 1.95 and a beta of 1.11. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The business had revenue of $33.77 billion during the quarter, compared to analysts’ expectations of $32.11 billion. During the same quarter last year, the firm posted $2.31 earnings per share. Research analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 annualized dividend and a yield of 3.6%. Phillips 66’s dividend payout ratio (DPR) is currently 115.38%.

Insiders Place Their Bets

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the sale, the executive vice president owned 34,587 shares of the company’s stock, valued at $4,842,180. This trade represents a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sigmund L. Cornelius bought 500 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The shares were acquired at an average cost of $123.55 per share, with a total value of $61,775.00. Following the purchase, the director directly owned 21,543 shares of the company’s stock, valued at $2,661,637.65. This trade represents a 2.38% 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. Company insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PSX shares. Jefferies Financial Group lifted their price target on Phillips 66 from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Monday, September 15th. Citigroup lowered Phillips 66 from a “buy” rating to a “neutral” rating and lifted their price target for the company from $126.00 to $130.00 in a research note on Wednesday, July 16th. Wall Street Zen raised Phillips 66 from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. UBS Group increased their price target on Phillips 66 from $143.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Finally, Wells Fargo & Company lowered their price objective on Phillips 66 from $149.00 to $147.00 and set an “overweight” rating for the company in a research report on Wednesday, June 11th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $140.19.

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.