Phillips 66 (NYSE:PSX) Position Lifted by Diversified Trust Co

Diversified Trust Co raised its stake in Phillips 66 (NYSE:PSX) by 95.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 21,992 shares of the oil and gas company’s stock after purchasing an additional 10,735 shares during the period. Diversified Trust Co’s holdings in Phillips 66 were worth $3,592,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Ables Iannone Moore & Associates Inc. acquired a new stake in Phillips 66 during the fourth quarter valued at approximately $27,000. First United Bank & Trust acquired a new stake in shares of Phillips 66 during the 4th quarter valued at approximately $31,000. Rise Advisors LLC bought a new position in Phillips 66 during the first quarter worth $40,000. Signature Resources Capital Management LLC acquired a new position in Phillips 66 in the fourth quarter worth $33,000. Finally, Bruce G. Allen Investments LLC bought a new stake in Phillips 66 during the fourth quarter valued at $36,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX opened at $140.93 on Tuesday. The firm has a market capitalization of $59.75 billion, a PE ratio of 10.84, a P/E/G ratio of 2.12 and a beta of 1.34. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $142.91 and a 200 day moving average price of $144.83. Phillips 66 has a 52-week low of $94.51 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The company had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. During the same quarter last year, the business earned $4.21 earnings per share. On average, sell-side analysts anticipate that Phillips 66 will post 11.08 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were given a dividend of $1.15 per share. The ex-dividend date was Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 3.26%. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Insider Transactions at Phillips 66

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PSX shares. Mizuho reduced their price target on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Raymond James lowered their target price on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. Bank of America raised their price target on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Barclays lowered their price objective on Phillips 66 from $147.00 to $142.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $157.43.

About Phillips 66

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.