AMG National Trust Bank Sells 502 Shares of Phillips 66 (NYSE:PSX)

AMG National Trust Bank cut its stake in Phillips 66 (NYSE:PSX) by 6.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,931 shares of the oil and gas company’s stock after selling 502 shares during the period. AMG National Trust Bank’s holdings in Phillips 66 were worth $923,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nvwm LLC increased its position in shares of Phillips 66 by 0.9% during the fourth quarter. Nvwm LLC now owns 8,286 shares of the oil and gas company’s stock worth $1,103,000 after buying an additional 75 shares during the period. Cardinal Capital Management grew its holdings in Phillips 66 by 0.3% during the 4th quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock worth $3,104,000 after acquiring an additional 77 shares during the period. Aaron Wealth Advisors LLC raised its position in shares of Phillips 66 by 3.6% in the 4th quarter. Aaron Wealth Advisors LLC now owns 2,340 shares of the oil and gas company’s stock worth $312,000 after acquiring an additional 82 shares in the last quarter. Benjamin Edwards Inc. raised its position in shares of Phillips 66 by 3.9% in the 4th quarter. Benjamin Edwards Inc. now owns 2,271 shares of the oil and gas company’s stock worth $302,000 after acquiring an additional 85 shares in the last quarter. Finally, Cornerstone Wealth Management LLC boosted its position in shares of Phillips 66 by 1.3% during the 4th quarter. Cornerstone Wealth Management LLC now owns 6,495 shares of the oil and gas company’s stock valued at $865,000 after purchasing an additional 86 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PSX. Wells Fargo & Company lifted their target price on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Bank of America lifted their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Barclays cut their target price on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 30th. JPMorgan Chase & Co. lifted their price target on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Finally, Piper Sandler cut their price objective 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. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $156.21.

Phillips 66 Stock Up 1.6 %

Phillips 66 stock traded up $2.36 during midday trading on Friday, hitting $147.08. 1,886,265 shares of the stock were exchanged, compared to its average volume of 2,330,234. 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 stock has a market capitalization of $62.35 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 1.98 and a beta of 1.41. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08. The business’s 50-day moving average price is $155.59 and its 200-day moving average price is $140.51.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The business had revenue of $36.44 billion during 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 period in the prior year, the company earned $4.21 earnings per share. On average, research analysts expect that Phillips 66 will post 12.38 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is currently 32.31%.

Insiders Place Their Bets

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the sale, the vice president now directly owns 6,583 shares in the company, valued at $1,035,242.58. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.22% of the company’s stock.

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.