Truist Financial Corp Buys 25,366 Shares of Phillips 66 (NYSE:PSX)

Truist Financial Corp boosted its stake in shares of Phillips 66 (NYSE:PSX) by 4.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 557,607 shares of the oil and gas company’s stock after buying an additional 25,366 shares during the quarter. Truist Financial Corp’s holdings in Phillips 66 were worth $74,240,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC raised its holdings in shares of Phillips 66 by 134.8% in the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 151 shares in the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of Phillips 66 in the 4th quarter valued at about $36,000. West Branch Capital LLC raised its holdings in shares of Phillips 66 by 49.5% in the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 91 shares in the last quarter. Bell Investment Advisors Inc raised its holdings in shares of Phillips 66 by 82.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 138 shares in the last quarter. Finally, Headinvest LLC bought a new stake in shares of Phillips 66 in the 3rd quarter valued at about $51,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 3.7 %

NYSE:PSX opened at $151.41 on Friday. The company has a market cap of $64.78 billion, a PE ratio of 11.65, a P/E/G ratio of 1.83 and a beta of 1.37. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $155.55 and its two-hundred day moving average is $137.06.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. During the same period in the prior year, the firm posted $4.21 EPS. Analysts anticipate that Phillips 66 will post 13.77 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a $1.15 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s dividend payout ratio is 32.31%.

Insider Activity

In other news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Phillips 66 news, Director Robert W. Pease acquired 682 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were acquired at an average cost of $146.58 per share, with a total value of $99,967.56. Following the acquisition, the director now directly owns 1,900 shares of the company’s stock, valued at $278,502. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The disclosure for this sale can be found here. Insiders have sold 35,056 shares of company stock valued at $5,272,681 in the last ninety days. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Citigroup assumed coverage on shares of Phillips 66 in a research note on Wednesday, January 24th. They set a “buy” rating for the company. Bank of America boosted their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Raymond James boosted their price objective on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. The Goldman Sachs Group boosted their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $158.00.

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.