Community Bank N.A. Raises Holdings in Phillips 66 (NYSE:PSX)

Community Bank N.A. boosted its stake in Phillips 66 (NYSE:PSX) by 3.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,977 shares of the oil and gas company’s stock after purchasing an additional 632 shares during the period. Community Bank N.A.’s holdings in Phillips 66 were worth $2,232,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PSX. Mitchell & Pahl Private Wealth LLC lifted its stake in Phillips 66 by 0.4% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock worth $2,519,000 after acquiring an additional 74 shares during the period. Catalyst Financial Partners LLC lifted its position in shares of Phillips 66 by 5.1% in the 2nd quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock worth $214,000 after purchasing an additional 74 shares during the period. Advisory Alpha LLC boosted its stake in shares of Phillips 66 by 4.8% during the 2nd quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock valued at $233,000 after purchasing an additional 76 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its position in shares of Phillips 66 by 1.8% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,363 shares of the oil and gas company’s stock valued at $616,000 after buying an additional 77 shares during the period. Finally, Krane Funds Advisors LLC raised its stake in Phillips 66 by 3.6% in the third quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock worth $309,000 after buying an additional 82 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PSX. Wells Fargo & Company cut their price objective on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Morgan Stanley reduced their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. TD Cowen lowered their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Bank of America initiated coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price on the stock. Finally, Barclays lowered their price target on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $133.98 on Monday. The company has a 50 day moving average of $130.68 and a 200 day moving average of $134.84. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a twelve month low of $119.77 and a twelve month high of $174.08. The firm has a market cap of $55.33 billion, a P/E ratio of 17.20, a PEG ratio of 4.37 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same period in the prior year, the company posted $4.63 earnings per share. The company’s quarterly revenue was down 10.3% on a year-over-year basis. As a group, research analysts expect that Phillips 66 will post 7.66 EPS for the current fiscal 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 issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Monday, November 18th. Phillips 66’s payout ratio is presently 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.