Intrust Bank NA Sells 10,456 Shares of Phillips 66 $PSX

Intrust Bank NA reduced its stake in Phillips 66 (NYSE:PSX) by 51.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 9,934 shares of the oil and gas company’s stock after selling 10,456 shares during the quarter. Intrust Bank NA’s holdings in Phillips 66 were worth $1,282,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Phillips 66 by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock worth $6,701,052,000 after acquiring an additional 205,480 shares in the last quarter. M&T Bank Corp increased its holdings in Phillips 66 by 462.9% during the fourth quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock valued at $352,007,000 after buying an additional 2,243,268 shares during the period. Amundi increased its holdings in Phillips 66 by 2.8% during the third quarter. Amundi now owns 2,400,180 shares of the oil and gas company’s stock valued at $319,123,000 after buying an additional 65,568 shares during the period. Legal & General Group Plc increased its holdings in Phillips 66 by 1.5% during the third quarter. Legal & General Group Plc now owns 2,276,036 shares of the oil and gas company’s stock valued at $309,586,000 after buying an additional 33,397 shares during the period. Finally, AQR Capital Management LLC increased its holdings in Phillips 66 by 424.7% during the third quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock valued at $257,512,000 after buying an additional 1,532,389 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PSX. Barclays lifted their price objective on shares of Phillips 66 from $158.00 to $177.00 and gave the company an “equal weight” rating in a report on Wednesday, April 8th. Weiss Ratings lowered shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Mizuho lifted their price objective on shares of Phillips 66 from $152.00 to $170.00 and gave the company a “neutral” rating in a report on Tuesday, March 17th. Wolfe Research lifted their price objective on shares of Phillips 66 from $187.00 to $193.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Finally, Wells Fargo & Company lifted their price objective on shares of Phillips 66 from $163.00 to $201.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average price target of $187.11.

Insider Activity

In other Phillips 66 news, EVP Brian Mandell sold 42,800 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $169.53, for a total value of $7,255,884.00. Following the completion of the transaction, the executive vice president owned 61,595 shares of the company’s stock, valued at approximately $10,442,200.35. This trade represents a 41.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kevin J. Mitchell sold 600 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $171.56, for a total transaction of $102,936.00. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $16,705,826.56. This represents a 0.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 114,029 shares of company stock valued at $19,641,455 in the last ninety days. 0.40% of the stock is currently owned by insiders.

Phillips 66 Price Performance

Shares of PSX opened at $179.54 on Thursday. The company has a market cap of $71.98 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 0.27 and a beta of 0.70. Phillips 66 has a twelve month low of $109.75 and a twelve month high of $190.61. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average of $171.72 and a two-hundred day moving average of $152.86.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating the consensus estimate of ($0.54) by $1.03. The company had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. Phillips 66’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.90) earnings per share. As a group, analysts predict that Phillips 66 will post 17.64 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, May 18th. Phillips 66’s dividend payout ratio (DPR) is 50.05%.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.