Piscataqua Savings Bank Purchases 135 Shares of Phillips 66 (NYSE:PSX)

Piscataqua Savings Bank raised its holdings in shares of Phillips 66 (NYSE:PSX) by 19.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 816 shares of the oil and gas company’s stock after purchasing an additional 135 shares during the quarter. Piscataqua Savings Bank’s holdings in Phillips 66 were worth $101,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSX. Bogart Wealth LLC increased its position in shares of Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 120 shares in the last quarter. J.Safra Asset Management Corp bought a new stake in Phillips 66 during the 4th quarter worth approximately $25,000. Pacific Center for Financial Services bought a new stake in Phillips 66 during the 4th quarter worth approximately $27,000. Graney & King LLC bought a new stake in Phillips 66 during the 4th quarter worth approximately $28,000. Finally, Wood Tarver Financial Group LLC bought a new stake in Phillips 66 during the 4th quarter worth approximately $29,000. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PSX shares. Raymond James decreased their price target on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. UBS Group reduced their target price on shares of Phillips 66 from $144.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Barclays upped their target price on shares of Phillips 66 from $106.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. Wells Fargo & Company reduced their price objective on shares of Phillips 66 from $162.00 to $149.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Finally, Wall Street Zen upgraded Phillips 66 from a “sell” rating to a “hold” rating in a research note on Monday, April 28th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $135.62.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $114.51 on Friday. The company has a 50-day moving average price of $108.22 and a two-hundred day moving average price of $118.02. The firm has a market capitalization of $46.65 billion, a PE ratio of 23.18, a P/E/G ratio of 4.84 and a beta of 1.02. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $150.12. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The business had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. During the same period last year, the business posted $1.90 earnings per share. Equities analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a $1.20 dividend. The ex-dividend date was Monday, May 19th. This represents a $4.80 annualized dividend and a yield of 4.19%. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s dividend payout ratio (DPR) is currently 109.34%.

Insiders Place Their Bets

In other Phillips 66 news, Director Robert W. Pease acquired 439 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was bought at an average price of $113.85 per share, with a total value of $49,980.15. Following the completion of the purchase, the director now owns 4,091 shares of the company’s stock, valued at approximately $465,760.35. This represents a 12.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Profile

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.