Citizens National Bank Trust Department Reduces Stock Holdings in Phillips 66 (NYSE:PSX)

Citizens National Bank Trust Department lessened its stake in shares of Phillips 66 (NYSE:PSX) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,234 shares of the oil and gas company’s stock after selling 350 shares during the quarter. Citizens National Bank Trust Department’s holdings in Phillips 66 were worth $3,103,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. nVerses Capital LLC purchased a new position in shares of Phillips 66 during the third quarter worth about $26,000. Allspring Global Investments Holdings LLC grew its stake in Phillips 66 by 22.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 118,782 shares of the oil and gas company’s stock worth $15,614,000 after buying an additional 21,840 shares during the last quarter. Oakworth Capital Inc. increased its position in Phillips 66 by 36.5% during the third quarter. Oakworth Capital Inc. now owns 1,660 shares of the oil and gas company’s stock worth $218,000 after buying an additional 444 shares during the period. Sequoia Financial Advisors LLC increased its position in Phillips 66 by 40.2% during the third quarter. Sequoia Financial Advisors LLC now owns 28,296 shares of the oil and gas company’s stock worth $3,720,000 after buying an additional 8,110 shares during the period. Finally, Eastern Bank purchased a new stake in Phillips 66 in the third quarter valued at approximately $348,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $130.12 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The firm has a market capitalization of $53.74 billion, a P/E ratio of 26.34, a PEG ratio of 4.79 and a beta of 1.37. The company’s fifty day moving average is $118.90 and its two-hundred day moving average is $127.10.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the previous year, the company posted $3.09 EPS. Analysts forecast 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 will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend is Monday, February 24th. Phillips 66’s payout ratio is currently 93.12%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PSX shares. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, February 14th. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a report on Friday, January 3rd. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Barclays dropped their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Finally, Mizuho decreased their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $148.00.

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.