Phillips 66 (NYSE:PSX) Shares Bought by Somerset Trust Co

Somerset Trust Co increased its position in shares of Phillips 66 (NYSE:PSXFree Report) by 2.5% during the first quarter, Holdings Channel.com reports. The fund owned 19,327 shares of the oil and gas company’s stock after acquiring an additional 472 shares during the quarter. Somerset Trust Co’s holdings in Phillips 66 were worth $3,157,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. acquired a new position in Phillips 66 during the fourth quarter worth about $27,000. First United Bank & Trust acquired a new position in Phillips 66 during the fourth quarter worth about $31,000. Signature Resources Capital Management LLC acquired a new position in Phillips 66 during the fourth quarter worth about $33,000. Bruce G. Allen Investments LLC acquired a new position in Phillips 66 during the fourth quarter worth about $36,000. Finally, Gladius Capital Management LP acquired a new position in Phillips 66 during the fourth quarter worth about $36,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Down 1.0 %

Shares of PSX traded down $1.44 during midday trading on Wednesday, reaching $135.85. 2,588,767 shares of the stock were exchanged, compared to its average volume of 2,036,048. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The firm has a 50 day simple moving average of $146.23 and a 200-day simple moving average of $144.11. 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 company has a market cap of $57.59 billion, a price-to-earnings ratio of 10.45, a P/E/G ratio of 1.94 and a beta of 1.37.

Phillips 66 (NYSE:PSXGet Free Report) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the business posted $4.21 earnings per share. Research analysts forecast that Phillips 66 will post 11.8 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.39%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PSX. JPMorgan Chase & Co. lifted their target price on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Bank of America increased their price target on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Barclays decreased their price target on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 30th. Raymond James decreased their price target on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Finally, Wells Fargo & Company increased their price target on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $157.57.

View Our Latest Research Report on PSX

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value 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 approximately $7,051,617. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.22% of the stock is owned by company insiders.

Phillips 66 Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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