Diversified Trust Co Has $3.82 Million Position in Phillips 66 $PSX

Diversified Trust Co grew its stake in shares of Phillips 66 (NYSE:PSX) by 562.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,088 shares of the oil and gas company’s stock after acquiring an additional 23,850 shares during the period. Diversified Trust Co’s holdings in Phillips 66 were worth $3,821,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. CWC Advisors LLC. increased its position in Phillips 66 by 0.6% in the 3rd quarter. CWC Advisors LLC. now owns 13,351 shares of the oil and gas company’s stock worth $1,816,000 after purchasing an additional 80 shares during the last quarter. First American Bank increased its holdings in Phillips 66 by 0.3% in the third quarter. First American Bank now owns 30,033 shares of the oil and gas company’s stock worth $4,085,000 after buying an additional 81 shares during the last quarter. Wolff Wiese Magana LLC raised its position in Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 82 shares in the last quarter. Magnus Financial Group LLC lifted its stake in Phillips 66 by 2.8% in the second quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock valued at $368,000 after acquiring an additional 84 shares during the last quarter. Finally, Biltmore Wealth Management LLC grew its position in Phillips 66 by 2.4% in the second quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock worth $431,000 after acquiring an additional 85 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PSX shares. Morgan Stanley raised their price target on shares of Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, October 3rd. Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 18th. Barclays upped their price target on Phillips 66 from $132.00 to $141.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. Cowen reissued a “buy” rating on shares of Phillips 66 in a research note on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $147.82.

Phillips 66 Stock Performance

PSX opened at $128.56 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.23 and a debt-to-equity ratio of 0.68. The stock’s 50 day moving average price is $135.70 and its two-hundred day moving average price is $130.60. The firm has a market capitalization of $51.80 billion, a P/E ratio of 35.12, a price-to-earnings-growth ratio of 0.67 and a beta of 0.92. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $144.96.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.38. The company had revenue of $33.69 billion during the quarter, compared to analysts’ expectations of $32.29 billion. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.During the same period in the prior year, the business earned $2.04 earnings per share. On average, equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.7%. The ex-dividend date was Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is currently 131.15%.

Insider Activity

In related news, EVP Brian Mandell sold 26,200 shares of Phillips 66 stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total transaction of $3,607,216.00. Following the sale, the executive vice president directly owned 56,838 shares of the company’s stock, valued at $7,825,455.84. This trade represents a 31.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $138.00, for a total value of $4,140,000.00. Following the completion of the transaction, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. This trade represents a 25.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 81,700 shares of company stock worth $11,318,236. Insiders own 0.22% of the company’s stock.

Phillips 66 Company 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.