Hancock Whitney Corp Has $2.41 Million Stock Holdings in Phillips 66 (NYSE:PSX)

Hancock Whitney Corp lowered its stake in shares of Phillips 66 (NYSE:PSX) by 22.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,096 shares of the oil and gas company’s stock after selling 4,872 shares during the period. Hancock Whitney Corp’s holdings in Phillips 66 were worth $2,413,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PSX. Vanguard Group Inc. grew its stake in Phillips 66 by 4.0% in the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after purchasing an additional 1,578,669 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Phillips 66 by 20.3% in the 4th quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after buying an additional 1,842,226 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Phillips 66 by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock worth $1,189,035,000 after buying an additional 402,925 shares during the last quarter. Boston Partners raised its position in Phillips 66 by 41.4% during the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after acquiring an additional 1,595,722 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Phillips 66 by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock valued at $514,253,000 after acquiring an additional 111,261 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the transaction, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $129.97 on Friday. The firm’s 50-day moving average is $135.20 and its 200-day moving average is $143.67. The company has a market cap of $55.10 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 4.67 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. Phillips 66 has a 52-week low of $107.85 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. During the same period in the previous year, the company posted $3.87 earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. Equities research analysts anticipate that Phillips 66 will post 9.1 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were given a $1.15 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.54%. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Analysts Set New Price Targets

PSX has been the topic of several analyst reports. Scotiabank dropped their price target on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Morgan Stanley cut their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. JPMorgan Chase & Co. decreased their price target on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Barclays increased their price objective on Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Finally, Raymond James increased their price target on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $154.21.

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.