Indiana Trust & Investment Management CO Makes New Investment in Phillips 66 (NYSE:PSX)

Indiana Trust & Investment Management CO acquired a new stake in Phillips 66 (NYSE:PSX) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 445 shares of the oil and gas company’s stock, valued at approximately $73,000.

Other hedge funds have also recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. bought a new position in Phillips 66 in the 4th quarter worth approximately $27,000. First United Bank & Trust bought a new position in shares of Phillips 66 during the fourth quarter worth $31,000. Signature Resources Capital Management LLC purchased a new position in Phillips 66 during the fourth quarter valued at $33,000. Bruce G. Allen Investments LLC bought a new stake in Phillips 66 in the 4th quarter valued at $36,000. Finally, Gladius Capital Management LP purchased a new stake in Phillips 66 in the 4th quarter worth $36,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 1.3 %

Shares of NYSE PSX opened at $141.17 on Friday. The company has a market cap of $59.85 billion, a P/E ratio of 10.86, a PEG ratio of 2.10 and a beta of 1.37. The firm has a 50-day simple moving average of $142.91 and a two-hundred day simple moving average of $144.57. Phillips 66 has a 1 year low of $93.40 and a 1 year high of $174.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The business had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same period in the prior year, the business posted $4.21 earnings per share. Research analysts anticipate that Phillips 66 will post 11.08 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were paid a dividend of $1.15 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend was Friday, May 17th. Phillips 66’s payout ratio is currently 35.38%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PSX. Raymond James reduced their target price on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. StockNews.com downgraded Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. JPMorgan Chase & Co. increased their target price on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Argus restated a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a research report on Thursday, May 30th. Finally, Scotiabank upped their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $157.79.

Insider Buying and Selling

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the sale, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.22% of the stock is currently owned by insiders.

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.