Trust Co. of Oklahoma Buys New Position in Phillips 66 $PSX

Trust Co. of Oklahoma purchased a new position in Phillips 66 (NYSE:PSX) during the 2nd quarter, HoldingsChannel reports. The firm purchased 2,497 shares of the oil and gas company’s stock, valued at approximately $298,000.

Several other large investors also recently made changes to their positions in the business. Elliott Investment Management L.P. boosted its holdings in Phillips 66 by 1,929.0% during the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after buying an additional 14,950,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Phillips 66 by 20.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company’s stock worth $19,625,000 after purchasing an additional 26,825 shares during the period. Alta Advisers Ltd purchased a new stake in shares of Phillips 66 during the first quarter valued at $253,000. Sustainable Insight Capital Management LLC acquired a new position in shares of Phillips 66 in the 1st quarter valued at $1,457,000. Finally, Evergreen Wealth Solutions LLC purchased a new position in Phillips 66 in the 1st quarter worth about $292,000. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other news, Director Michael A. Heim bought 1,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were acquired at an average cost of $125.97 per share, for a total transaction of $125,970.00. Following the purchase, the director owned 12,043 shares of the company’s stock, valued at $1,517,056.71. This represents a 9.06% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory Hayes bought 8,350 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the acquisition, the director directly owned 29,423 shares in the company, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 9,850 shares of company stock worth $1,188,910 and sold 18,586 shares worth $2,389,145. 0.22% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on PSX. Piper Sandler upped their price objective on shares of Phillips 66 from $144.00 to $154.00 and gave the company a “neutral” rating in a research note on Thursday. Wells Fargo & Company reduced their price target on shares of Phillips 66 from $149.00 to $147.00 and set an “overweight” rating for the company in a research report on Wednesday, June 11th. Cantor Fitzgerald began coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued a “neutral” rating for the company. Tudor Pickering cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Finally, Morgan Stanley increased their target price on Phillips 66 from $122.00 to $128.00 and gave the company an “equal weight” rating in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $136.40.

Phillips 66 Trading Down 1.3%

Shares of NYSE:PSX opened at $130.77 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $52.85 billion, a PE ratio of 31.44, a P/E/G ratio of 2.06 and a beta of 1.15. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $140.60. The firm has a fifty day moving average price of $126.95 and a 200 day moving average price of $119.55.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.59. The business had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same period last year, the business earned $2.31 EPS. Analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Tuesday, August 19th. Phillips 66’s payout ratio is presently 115.38%.

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.