First National Bank of Mount Dora Trust Investment Services Sells 237 Shares of Phillips 66 $PSX

First National Bank of Mount Dora Trust Investment Services decreased its position in Phillips 66 (NYSE:PSX) by 2.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 8,380 shares of the oil and gas company’s stock after selling 237 shares during the quarter. First National Bank of Mount Dora Trust Investment Services’ holdings in Phillips 66 were worth $1,000,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Elliott Investment Management L.P. boosted its holdings in Phillips 66 by 1,929.0% in the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after acquiring an additional 14,950,000 shares during the last quarter. Chronos Wealth Management LLC bought a new position in Phillips 66 in the second quarter valued at about $281,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Phillips 66 by 20.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company’s stock valued at $19,625,000 after acquiring an additional 26,825 shares during the last quarter. Alta Advisers Ltd bought a new position in Phillips 66 in the first quarter valued at about $253,000. Finally, Sustainable Insight Capital Management LLC bought a new position in Phillips 66 in the first quarter valued at about $1,457,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.9%

NYSE PSX opened at $128.37 on Friday. The firm has a market cap of $51.88 billion, a P/E ratio of 30.86, a P/E/G ratio of 1.80 and a beta of 1.11. 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 stock’s 50-day moving average is $130.23 and its 200-day moving average is $120.78. Phillips 66 has a one year low of $91.01 and a one year high of $142.35.

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

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be issued a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. Phillips 66’s dividend payout ratio (DPR) is presently 115.38%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, October 8th. UBS Group increased their target price on Phillips 66 from $143.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Evercore ISI increased their target price on Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. Mizuho increased their target price on Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Monday, September 15th. Finally, Jefferies Financial Group increased their target price on Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research note on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.75.

Insider Transactions at Phillips 66

In other news, Director Gregory Hayes acquired 8,350 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The stock was acquired at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the acquisition, the director owned 29,423 shares in the company, valued at $3,527,817.70. This represents a 39.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the transaction, the executive vice president owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired a total of 9,850 shares of company stock valued at $1,188,910 in the last ninety days. Corporate insiders own 0.22% of the company’s stock.

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.