First American Bank Sells 2,667 Shares of Phillips 66 (NYSE:PSX)

First American Bank lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 8.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 30,354 shares of the oil and gas company’s stock after selling 2,667 shares during the period. First American Bank’s holdings in Phillips 66 were worth $3,458,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PSX. Bogart Wealth LLC grew its holdings in Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 120 shares during the period. Stephens Consulting LLC lifted its holdings in Phillips 66 by 83.5% during the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 111 shares in the last quarter. Human Investing LLC bought a new position in Phillips 66 during the fourth quarter worth about $30,000. Webster Bank N. A. increased its holdings in shares of Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 88 shares in the last quarter. Finally, YANKCOM Partnership acquired a new stake in shares of Phillips 66 during the fourth quarter worth about $31,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

NYSE:PSX opened at $127.39 on Friday. The company has a market cap of $51.94 billion, a P/E ratio of 25.79, a P/E/G ratio of 4.84 and a beta of 1.37. The firm’s fifty day moving average price is $120.21 and its two-hundred day moving average price is $126.90. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. 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 announced its quarterly earnings results 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 net margin of 1.46% and a return on equity of 8.58%. During the same quarter last year, the business posted $3.09 earnings per share. Equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.61%. Phillips 66’s dividend payout ratio (DPR) is currently 93.12%.

Analyst Ratings Changes

PSX has been the subject of several research analyst reports. Wells Fargo & Company boosted their price objective on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. UBS Group cut their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Barclays reduced their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Mizuho dropped their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Finally, Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently 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.