Trust Co. of Toledo NA OH Sells 216 Shares of Phillips 66 $PSX

Trust Co. of Toledo NA OH cut its holdings in Phillips 66 (NYSE:PSX) by 3.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,363 shares of the oil and gas company’s stock after selling 216 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Phillips 66 were worth $640,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Drucker Wealth 3.0 LLC bought a new position in Phillips 66 in the 2nd quarter valued at approximately $427,000. Aberdeen Group plc lifted its holdings in shares of Phillips 66 by 4.5% during the 2nd quarter. Aberdeen Group plc now owns 157,332 shares of the oil and gas company’s stock valued at $18,885,000 after buying an additional 6,719 shares during the period. First Fiduciary Investment Counsel Inc. lifted its holdings in shares of Phillips 66 by 7.5% during the 2nd quarter. First Fiduciary Investment Counsel Inc. now owns 56,810 shares of the oil and gas company’s stock valued at $6,777,000 after buying an additional 3,941 shares during the period. PDS Planning Inc lifted its holdings in shares of Phillips 66 by 14.7% during the 2nd quarter. PDS Planning Inc now owns 3,924 shares of the oil and gas company’s stock valued at $468,000 after buying an additional 503 shares during the period. Finally, Cyndeo Wealth Partners LLC lifted its holdings in shares of Phillips 66 by 3.7% during the 2nd quarter. Cyndeo Wealth Partners LLC now owns 42,167 shares of the oil and gas company’s stock valued at $5,031,000 after buying an additional 1,520 shares during the period. 76.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

PSX has been the topic of several research analyst reports. Barclays increased their price target on Phillips 66 from $127.00 to $132.00 and gave the company an “equal weight” rating in a report on Tuesday. JPMorgan Chase & Co. set a $115.00 price target on Phillips 66 in a report on Wednesday, June 18th. Jefferies Financial Group increased their price target on Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a report on Friday. Piper Sandler increased their price target on Phillips 66 from $154.00 to $155.00 and gave the company a “neutral” rating in a report on Monday, September 29th. Finally, TD Cowen upped their price objective on Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $140.75.

Phillips 66 Trading Down 3.1%

NYSE:PSX opened at $127.01 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The firm has a market capitalization of $51.33 billion, a price-to-earnings ratio of 30.53, a price-to-earnings-growth ratio of 1.86 and a beta of 1.11. Phillips 66 has a one year low of $91.01 and a one year high of $142.35. The business has a fifty day moving average price of $129.51 and a 200-day moving average price of $120.59.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The business had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same quarter in the prior year, the business posted $2.31 EPS. Sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio is presently 115.38%.

Insiders Place Their Bets

In other Phillips 66 news, Director Michael A. Heim purchased 1,000 shares of the business’s stock in a transaction on Wednesday, July 30th. The stock was acquired at an average price 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 approximately $1,517,056.71. This represents a 9.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction on Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the sale, the executive vice president owned 34,587 shares of the company’s stock, valued at $4,842,180. The trade was a 11.27% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 9,850 shares of company stock worth $1,188,910. 0.22% of the stock is currently owned by corporate insiders.

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.