OLD National Bancorp IN Has $945,000 Stock Holdings in Phillips 66 (NYSE:PSX)

OLD National Bancorp IN decreased its stake in shares of Phillips 66 (NYSE:PSX) by 18.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,188 shares of the oil and gas company’s stock after selling 1,623 shares during the period. OLD National Bancorp IN’s holdings in Phillips 66 were worth $945,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Crewe Advisors LLC acquired a new position in shares of Phillips 66 during the first quarter worth approximately $25,000. Keener Financial Planning LLC acquired a new position in Phillips 66 during the 1st quarter worth $26,000. Strategic Financial Concepts LLC acquired a new position in Phillips 66 during the 2nd quarter worth $26,000. nVerses Capital LLC acquired a new stake in shares of Phillips 66 in the 3rd quarter valued at $26,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Phillips 66 during the first quarter worth $28,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 1.0 %

Shares of Phillips 66 stock opened at $131.32 on Tuesday. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The company has a market capitalization of $55.67 billion, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 5.75 and a beta of 1.33. The business has a 50-day moving average of $133.09 and a two-hundred day moving average of $139.92.

Phillips 66 (NYSE:PSX) last announced its earnings results 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 firm had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. During the same period last year, the company posted $3.87 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, equities analysts predict that Phillips 66 will post 7.85 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Monday, November 18th. Phillips 66’s payout ratio is presently 35.38%.

Insider Buying and Selling

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PSX shares. Wolfe Research started coverage on Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Bank of America initiated coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target for the company. JPMorgan Chase & Co. cut their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Mizuho lowered their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Finally, Barclays cut their price target on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $149.50.

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.