Greenleaf Trust Buys 481 Shares of Phillips 66 (NYSE:PSX)

Greenleaf Trust grew its stake in Phillips 66 (NYSE:PSX) by 4.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,353 shares of the oil and gas company’s stock after purchasing an additional 481 shares during the quarter. Greenleaf Trust’s holdings in Phillips 66 were worth $1,492,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Commerzbank Aktiengesellschaft FI raised its position in shares of Phillips 66 by 2.8% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 24,300 shares of the oil and gas company’s stock valued at $3,195,000 after purchasing an additional 651 shares during the period. Segment Wealth Management LLC grew its stake in shares of Phillips 66 by 1.7% in the third quarter. Segment Wealth Management LLC now owns 10,205 shares of the oil and gas company’s stock valued at $1,341,000 after acquiring an additional 174 shares in the last quarter. Accordant Advisory Group Inc grew its stake in shares of Phillips 66 by 26.3% in the third quarter. Accordant Advisory Group Inc now owns 9,848 shares of the oil and gas company’s stock valued at $1,295,000 after acquiring an additional 2,048 shares in the last quarter. Symphony Financial Ltd. Co. grew its stake in shares of Phillips 66 by 4.9% in the third quarter. Symphony Financial Ltd. Co. now owns 5,103 shares of the oil and gas company’s stock valued at $669,000 after acquiring an additional 240 shares in the last quarter. Finally, Waldron Private Wealth LLC grew its stake in shares of Phillips 66 by 3.6% in the third quarter. Waldron Private Wealth LLC now owns 5,079 shares of the oil and gas company’s stock valued at $668,000 after acquiring an additional 175 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. 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 research note on Wednesday, September 11th. Wells Fargo & Company decreased their price target on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Barclays reduced their price objective on shares of 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. Scotiabank reduced their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Raymond James increased their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $149.50.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the transaction, the chief financial officer now 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.22% of the stock is owned by company insiders.

Phillips 66 Stock Down 1.8 %

PSX stock opened at $129.12 on Thursday. The stock has a market capitalization of $54.74 billion, a P/E ratio of 9.93, a price-to-earnings-growth ratio of 5.68 and a beta of 1.33. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08. The firm has a 50-day moving average price of $132.85 and a 200-day moving average price of $139.57.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The firm had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.87 earnings per share. As a group, equities research analysts anticipate that Phillips 66 will post 7.81 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.56%. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

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.