Phillips 66 $PSX Shares Sold by Bryn Mawr Trust Advisors LLC

Bryn Mawr Trust Advisors LLC lessened its stake in Phillips 66 (NYSE:PSX) by 4.5% during the 1st quarter, HoldingsChannel reports. The firm owned 70,700 shares of the oil and gas company’s stock after selling 3,301 shares during the quarter. Bryn Mawr Trust Advisors LLC’s holdings in Phillips 66 were worth $12,880,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Board of the Pension Protection Fund acquired a new position in shares of Phillips 66 in the 4th quarter valued at $26,000. Accordant Advisory Group Inc boosted its holdings in Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after buying an additional 180 shares in the last quarter. SWAN Capital LLC grew its position in Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 190 shares during the period. Eagle Bay Advisors LLC acquired a new stake in Phillips 66 during the fourth quarter valued at $27,000. Finally, Stephens Consulting LLC increased its holdings in Phillips 66 by 67.7% in the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 90 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price objective on shares of Phillips 66 from $192.00 to $207.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 19th. Wells Fargo & Company raised their target price on Phillips 66 from $163.00 to $201.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Barclays lifted their price target on Phillips 66 from $177.00 to $183.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Raymond James Financial increased their price target on Phillips 66 from $218.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, JPMorgan Chase & Co. boosted their price objective on Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $194.89.

Phillips 66 Price Performance

PSX stock opened at $198.00 on Tuesday. Phillips 66 has a 1 year low of $118.07 and a 1 year high of $198.58. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The firm has a market capitalization of $79.38 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 0.25 and a beta of 0.69. The business has a 50 day simple moving average of $176.76 and a 200-day simple moving average of $163.69.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. The firm had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.90) earnings per share. Equities research analysts anticipate that Phillips 66 will post 19.3 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 Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.6%. Phillips 66’s dividend payout ratio (DPR) is 50.05%.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 29,400 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the transaction, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $16,553,920. The trade was a 23.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kevin Omar Meyers acquired 175 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average cost of $173.12 per share, with a total value of $30,296.00. Following the acquisition, the director directly owned 16,799 shares of the company’s stock, valued at $2,908,242.88. This trade represents a 1.05% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have sold 41,021 shares of company stock worth $7,195,257. Insiders own 0.40% of the company’s stock.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.