CENTRAL TRUST Co Sells 451 Shares of Phillips 66 (NYSE:PSX)

CENTRAL TRUST Co reduced its position in Phillips 66 (NYSE:PSX) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,079 shares of the oil and gas company’s stock after selling 451 shares during the quarter. CENTRAL TRUST Co’s holdings in Phillips 66 were worth $4,750,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Redmont Wealth Advisors LLC bought a new stake in shares of Phillips 66 during the 1st quarter valued at approximately $28,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Phillips 66 during the 4th quarter valued at approximately $27,000. First United Bank & Trust bought a new stake in shares of Phillips 66 during the 4th quarter valued at approximately $31,000. Rise Advisors LLC bought a new stake in shares of Phillips 66 during the 1st quarter valued at approximately $40,000. Finally, Signature Resources Capital Management LLC bought a new stake in shares of Phillips 66 during the 4th quarter valued at approximately $33,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Down 0.9 %

PSX stock traded down $1.24 during midday trading on Wednesday, reaching $142.90. 2,440,192 shares of the company’s stock traded hands, compared to its average volume of 2,836,946. The company has a market cap of $60.58 billion, a price-to-earnings ratio of 10.99, a P/E/G ratio of 1.96 and a beta of 1.41. The firm’s fifty day moving average price is $155.14 and its 200-day moving average price is $141.08. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The business had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same quarter last year, the firm posted $4.21 EPS. As a group, sell-side analysts forecast that Phillips 66 will post 12.26 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a $1.15 dividend. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 annualized dividend and a dividend yield of 3.22%. Phillips 66’s dividend payout ratio is presently 35.38%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PSX. The Goldman Sachs Group lifted their target price on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Barclays dropped their price target on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 30th. Wells Fargo & Company boosted their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Piper Sandler dropped their price target on shares of Phillips 66 from $187.00 to $170.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 14th. Finally, Citigroup assumed coverage on shares of Phillips 66 in a research report on Wednesday, January 24th. They issued a “buy” rating on the stock. Five 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 has an average rating of “Moderate Buy” and an average price target of $156.21.

Insider Transactions at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the sale, the executive vice president now owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Timothy D. Roberts sold 37,742 shares of the business’s 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 completion of the transaction, the executive vice president now directly owns 48,365 shares in the company, valued at $7,051,617. The disclosure for this sale can be found here. Insiders sold a total of 50,864 shares of company stock worth $7,567,178 in the last quarter. 0.22% of the stock is currently owned by corporate insiders.

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.