Bangor Savings Bank Raises Holdings in Phillips 66 (NYSE:PSX)

Bangor Savings Bank lifted its holdings in Phillips 66 (NYSE:PSX) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,373 shares of the oil and gas company’s stock after purchasing an additional 159 shares during the quarter. Bangor Savings Bank’s holdings in Phillips 66 were worth $1,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Madison Park Capital Advisors LLC increased its stake in Phillips 66 by 3.0% in the 1st quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock worth $383,000 after buying an additional 68 shares during the period. MV Capital Management Inc. lifted its holdings in shares of Phillips 66 by 9.6% in the 1st quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock worth $137,000 after buying an additional 73 shares during the period. Mitchell & Pahl Private Wealth LLC grew its holdings in Phillips 66 by 0.4% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock worth $2,519,000 after acquiring an additional 74 shares in the last quarter. Catalyst Financial Partners LLC lifted its position in shares of Phillips 66 by 5.1% in the 2nd quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock worth $214,000 after purchasing an additional 74 shares during the period. Finally, Claro Advisors LLC lifted its position in shares of Phillips 66 by 4.5% in the 1st quarter. Claro Advisors LLC now owns 1,738 shares of the oil and gas company’s stock worth $284,000 after purchasing an additional 75 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PSX. TD Cowen cut their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Wells Fargo & Company lifted their price objective on shares of Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. decreased their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Mizuho cut their price target on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Finally, Morgan Stanley decreased their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus price target of $152.71.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $138.54 on Tuesday. The company has a market capitalization of $58.73 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 5.46 and a beta of 1.33. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The company’s fifty day moving average price is $133.83 and its 200 day moving average price is $142.17. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.33. The business had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.87 EPS. On average, research analysts predict that Phillips 66 will post 8.21 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a $1.15 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.32%. Phillips 66’s payout ratio is 35.38%.

Phillips 66 Company 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.