Colonial Trust Advisors Sells 3,470 Shares of Phillips 66 $PSX

Colonial Trust Advisors decreased its stake in shares of Phillips 66 (NYSE:PSX) by 8.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,593 shares of the oil and gas company’s stock after selling 3,470 shares during the period. Colonial Trust Advisors’ holdings in Phillips 66 were worth $4,977,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Phillips 66 by 14.8% during the second quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock valued at $5,531,702,000 after purchasing an additional 5,978,841 shares during the last quarter. Norges Bank bought a new position in Phillips 66 in the 2nd quarter worth approximately $523,755,000. Elliott Investment Management L.P. raised its position in Phillips 66 by 22.4% in the 2nd quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock worth $2,296,644,000 after purchasing an additional 3,526,000 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Phillips 66 by 17.4% during the 2nd quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock worth $1,226,815,000 after buying an additional 1,532,967 shares in the last quarter. Finally, Soundwatch Capital LLC bought a new position in Phillips 66 in the 2nd quarter valued at $170,604,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX stock opened at $154.32 on Wednesday. The stock has a market cap of $61.84 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 0.54 and a beta of 0.90. The stock has a 50-day moving average of $142.69 and a 200-day moving average of $136.69. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.30 and a quick ratio of 0.87. Phillips 66 has a one year low of $91.01 and a one year high of $163.79.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.32. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. The firm had revenue of $32.16 billion during the quarter, compared to analysts’ expectations of $33.81 billion. During the same quarter in the previous year, the company earned ($0.15) earnings per share. As a group, sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd will be issued a $1.27 dividend. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $5.08 annualized dividend and a dividend yield of 3.3%. Phillips 66’s dividend payout ratio (DPR) is presently 46.95%.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Don Baldridge sold 7,500 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total value of $1,200,000.00. Following the completion of the sale, the executive vice president directly owned 38,488 shares in the company, valued at $6,158,080. This represents a 16.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of Phillips 66 stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total value of $659,100.00. Following the transaction, the executive vice president owned 25,799 shares in the company, valued at $3,869,850. This trade represents a 14.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 41,788 shares of company stock worth $6,067,250 in the last quarter. Corporate insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PSX. BMO Capital Markets restated an “outperform” rating and set a $170.00 target price on shares of Phillips 66 in a research report on Friday, February 6th. Wells Fargo & Company boosted their price objective on Phillips 66 from $162.00 to $163.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Morgan Stanley raised their target price on shares of Phillips 66 from $140.00 to $147.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. TD Cowen reiterated a “buy” rating on shares of Phillips 66 in a research report on Friday, February 6th. Finally, Barclays set a $158.00 price target on shares of Phillips 66 in a research note on Friday. Eleven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $160.11.

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.