Plimoth Trust Co. LLC Boosts Stake in Phillips 66 (NYSE:PSX)

Plimoth Trust Co. LLC increased its stake in shares of Phillips 66 (NYSE:PSX) by 17.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,976 shares of the oil and gas company’s stock after buying an additional 450 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Phillips 66 were worth $367,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PSX. Tallon Kerry Patrick purchased a new stake in shares of Phillips 66 in the 4th quarter valued at $336,000. Brighton Jones LLC boosted its holdings in Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after purchasing an additional 7,214 shares during the last quarter. Principal Securities Inc. raised its stake in shares of Phillips 66 by 3.0% during the 4th quarter. Principal Securities Inc. now owns 16,739 shares of the oil and gas company’s stock valued at $1,907,000 after buying an additional 484 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Phillips 66 by 19.4% in the 4th quarter. Allworth Financial LP now owns 15,262 shares of the oil and gas company’s stock valued at $1,809,000 after buying an additional 2,484 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in shares of Phillips 66 by 1.2% in the fourth quarter. CIBC Asset Management Inc now owns 72,684 shares of the oil and gas company’s stock worth $8,281,000 after buying an additional 851 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Up 0.4%

Shares of PSX opened at $124.98 on Thursday. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $111.33 and a two-hundred day simple moving average of $117.38. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $150.12. The company has a market capitalization of $50.92 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 1.91 and a beta of 1.02.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. The firm had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. During the same quarter in the prior year, the business earned $1.90 EPS. As a group, equities analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a $1.20 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a yield of 3.84%. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s payout ratio is currently 109.34%.

Analyst Ratings Changes

Several equities research analysts have commented on PSX shares. Evercore ISI started coverage on Phillips 66 in a research report on Wednesday. They issued an “outperform” rating and a $130.00 price objective on the stock. UBS Group cut their price objective on shares of Phillips 66 from $144.00 to $140.00 and set a “buy” rating for the company in a report on Monday, April 28th. Raymond James Financial lowered their target price on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. TD Cowen boosted their price objective on Phillips 66 from $114.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. set a $115.00 target price on Phillips 66 in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $133.93.

Insider Transactions at Phillips 66

In related news, Director Robert W. Pease bought 439 shares of the firm’s stock in a transaction on Thursday, May 22nd. The shares were bought at an average price of $113.85 per share, with a total value of $49,980.15. Following the completion of the transaction, the director now directly owns 4,091 shares of the company’s stock, valued at $465,760.35. This represents a 12.02% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.22% of the company’s stock.

Phillips 66 Company 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.