Legacy Private Trust Co. Boosts Position in Phillips 66 (NYSE:PSX)

Legacy Private Trust Co. grew its position in shares of Phillips 66 (NYSE:PSX) by 13.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,134 shares of the oil and gas company’s stock after purchasing an additional 255 shares during the period. Legacy Private Trust Co.’s holdings in Phillips 66 were worth $281,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PSX. Sei Investments Co. raised its stake in shares of Phillips 66 by 2.4% during the fourth quarter. Sei Investments Co. now owns 386,659 shares of the oil and gas company’s stock valued at $51,481,000 after purchasing an additional 8,954 shares during the period. Unigestion Holding SA acquired a new stake in shares of Phillips 66 during the fourth quarter worth approximately $549,000. Icon Wealth Advisors LLC acquired a new stake in shares of Phillips 66 during the fourth quarter worth approximately $2,358,000. First Financial Bankshares Inc acquired a new stake in shares of Phillips 66 during the fourth quarter worth approximately $380,000. Finally, Point72 Europe London LLP acquired a new stake in shares of Phillips 66 during the fourth quarter worth approximately $1,090,000. 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 Phillips 66 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 sale, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

PSX stock opened at $132.31 on Wednesday. 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 stock has a market capitalization of $56.09 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 5.46 and a beta of 1.33. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08. The stock’s fifty day moving average is $133.79 and its two-hundred day moving average is $142.02.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PSX. Barclays decreased their price target on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a research report on Tuesday. Piper Sandler raised their price target on shares of Phillips 66 from $136.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday. Raymond James raised their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Finally, TD Cowen decreased their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $152.93.

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.