Phillips 66 (NYSE:PSX) Shares Sold by Bangor Savings Bank

Bangor Savings Bank lessened its stake in shares of Phillips 66 (NYSE:PSX) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,959 shares of the oil and gas company’s stock after selling 414 shares during the quarter. Bangor Savings Bank’s holdings in Phillips 66 were worth $1,362,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. nVerses Capital LLC purchased a new stake in Phillips 66 during the 3rd quarter worth about $26,000. Values First Advisors Inc. purchased a new stake in shares of Phillips 66 during the third quarter worth about $30,000. Point72 Hong Kong Ltd purchased a new stake in shares of Phillips 66 during the third quarter worth about $40,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Phillips 66 in the second quarter valued at approximately $51,000. Finally, Hoese & Co LLP lifted its stake in shares of Phillips 66 by 33.1% during the third quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock valued at $53,000 after buying an additional 100 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on PSX. Scotiabank cut their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Barclays dropped their price objective on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. JPMorgan Chase & Co. decreased their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. TD Cowen decreased their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, UBS Group dropped their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $148.57.

Phillips 66 Stock Down 0.9 %

NYSE PSX opened at $115.05 on Tuesday. The stock has a market cap of $47.51 billion, a PE ratio of 14.77, a P/E/G ratio of 4.06 and a beta of 1.38. The business has a 50 day moving average price of $123.61 and a two-hundred day moving average price of $131.03. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. 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 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating 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 business had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same period in the prior year, the firm earned $4.63 earnings per share. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, sell-side analysts predict that Phillips 66 will post 7.56 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date was Monday, November 18th. Phillips 66’s payout ratio is 59.05%.

About Phillips 66

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.