AMG National Trust Bank Lowers Stock Position in Phillips 66 (NYSE:PSX)

AMG National Trust Bank lessened its position in shares of Phillips 66 (NYSE:PSX) by 8.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,914 shares of the oil and gas company’s stock after selling 641 shares during the period. AMG National Trust Bank’s holdings in Phillips 66 were worth $909,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PSX. Mizuho Securities USA LLC boosted its position in Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after purchasing an additional 2,467,316 shares during the period. Boston Partners boosted its position in shares of Phillips 66 by 41.4% in the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after buying an additional 1,595,722 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Phillips 66 by 96.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock valued at $467,743,000 after buying an additional 1,408,954 shares in the last quarter. ING Groep NV raised its holdings in shares of Phillips 66 by 123.2% during the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after buying an additional 653,032 shares during the period. Finally, Mizuho Markets Americas LLC acquired a new position in Phillips 66 during the 3rd quarter worth approximately $70,983,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PSX has been the topic of a number of analyst reports. UBS Group dropped their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Bank of America assumed coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Raymond James lifted their target price on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. TD Cowen reduced their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Finally, Scotiabank dropped their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Stock Down 0.3 %

PSX stock opened at $130.93 on Wednesday. The firm has a market cap of $54.07 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 4.29 and a beta of 1.33. Phillips 66 has a 1-year low of $114.94 and a 1-year high of $174.08. The firm has a fifty day moving average price of $129.90 and a two-hundred day moving average price of $135.55. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same quarter in the prior year, the business earned $4.63 earnings per share. Phillips 66’s quarterly revenue was down 10.3% on a year-over-year basis. Research analysts predict that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Monday, November 18th. Phillips 66’s payout ratio is 59.05%.

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.