Hills Bank & Trust Co Boosts Holdings in Phillips 66 (NYSE:PSX)

by · The Markets Daily

Hills Bank & Trust Co increased its stake in shares of Phillips 66 (NYSE:PSX – Free Report) by 5.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,391 shares of the oil and gas company’s stock after acquiring an additional 180 shares during the quarter. Hills Bank & Trust Co’s holdings in Phillips 66 were worth $446,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Crewe Advisors LLC acquired a new stake in shares of Phillips 66 during the first quarter worth about $25,000. Keener Financial Planning LLC acquired a new position in Phillips 66 during the first quarter worth approximately $26,000. Ruedi Wealth Management Inc. lifted its stake in Phillips 66 by 102.1% in the first quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 96 shares during the last quarter. nVerses Capital LLC purchased a new stake in Phillips 66 in the third quarter valued at approximately $26,000. Finally, Bank & Trust Co acquired a new stake in shares of Phillips 66 in the second quarter valued at approximately $31,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on PSX shares. Wells Fargo & Company reduced their price target on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Wolfe Research assumed coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Raymond James boosted their price target on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Mizuho decreased their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Finally, Bank of America began coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price on the stock. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $151.42.

View Our Latest Research Report on Phillips 66

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. This 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 the SEC website. 0.22% of the stock is currently owned by insiders.

Phillips 66 Price Performance

Phillips 66 stock opened at $120.01 on Friday. The company has a market cap of $49.56 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 3.94 and a beta of 1.33. Phillips 66 has a one year low of $110.54 and a one year high of $174.08. The business has a fifty day moving average of $131.27 and a two-hundred day moving average of $137.81. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.79 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX – Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter last year, the business earned $4.63 earnings per share. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, analysts predict that Phillips 66 will post 7.75 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s payout ratio is currently 59.05%.

About Phillips 66

(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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