Harbour Trust & Investment Management Co Sells 112 Shares of Phillips 66 (NYSE:PSX)

Harbour Trust & Investment Management Co lowered its stake in Phillips 66 (NYSE:PSX) by 2.9% in the third quarter, Holdings Channel reports. The fund owned 3,811 shares of the oil and gas company’s stock after selling 112 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Phillips 66 were worth $501,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Crewe Advisors LLC bought a new position in shares of Phillips 66 in the first quarter worth about $25,000. Keener Financial Planning LLC acquired a new position in shares of Phillips 66 in the first quarter valued at approximately $26,000. Strategic Financial Concepts LLC acquired a new position in shares of Phillips 66 in the second quarter valued at approximately $26,000. nVerses Capital LLC acquired a new position in shares of Phillips 66 in the third quarter valued at approximately $26,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Phillips 66 in the first quarter valued at approximately $28,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX stock opened at $128.49 on Friday. The company has a market cap of $53.78 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 5.61 and a beta of 1.33. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average of $132.85 and a 200-day moving average of $139.57.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping the consensus estimate of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. During the same quarter last year, the firm posted $3.87 EPS. The company’s quarterly revenue was up 8.9% on a year-over-year basis. On average, equities analysts forecast that Phillips 66 will post 7.81 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 39.45%.

Insider Buying and Selling

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Piper Sandler set a $144.00 price objective on Phillips 66 in a research note on Thursday, October 17th. Bank of America assumed coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Barclays lowered their price objective on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 8th. Wells Fargo & Company lowered their price objective on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Finally, Wolfe Research started coverage on Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $149.50.

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.