Farmers & Merchants Trust Co of Chambersburg PA grew its position in Phillips 66 (NYSE:PSX) by 7.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,461 shares of the oil and gas company’s stock after purchasing an additional 1,475 shares during the quarter. Phillips 66 comprises approximately 1.8% of Farmers & Merchants Trust Co of Chambersburg PA’s investment portfolio, making the stock its 16th biggest position. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Phillips 66 were worth $2,042,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of PSX. Moody National Bank Trust Division grew its position in shares of Phillips 66 by 425.4% during the 4th quarter. Moody National Bank Trust Division now owns 352 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 285 shares in the last quarter. Proficio Capital Partners LLC lifted its position in shares of Phillips 66 by 46.1% during the 4th quarter. Proficio Capital Partners LLC now owns 434 shares of the oil and gas company’s stock worth $37,000 after buying an additional 137 shares during the period. FNY Investment Advisers LLC bought a new position in shares of Phillips 66 during the 4th quarter worth approximately $37,000. Truehand Inc bought a new position in Phillips 66 in the 4th quarter valued at $40,000. Finally, Massey Quick Simon & CO. LLC bought a new position in Phillips 66 in the 4th quarter valued at $41,000. 71.30% of the stock is currently owned by institutional investors.
Several brokerages have issued reports on PSX. Jefferies Financial Group downgraded Phillips 66 from a “buy” rating to a “hold” rating and lifted their price objective for the company from $105.00 to $107.00 in a research report on Monday. Citigroup boosted their target price on Phillips 66 from $100.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Argus dropped their target price on Phillips 66 to $116.00 and set a “buy” rating for the company in a research report on Thursday, February 14th. Tudor Pickering upgraded Phillips 66 from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. Finally, Piper Jaffray Companies restated an “overweight” rating on shares of Phillips 66 in a research report on Thursday, January 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Phillips 66 presently has an average rating of “Hold” and a consensus price target of $120.18.
In other Phillips 66 news, Chairman Greg C. Garland sold 42,728 shares of the firm’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $97.61, for a total value of $4,170,680.08. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.13% of the company’s stock.
Shares of PSX stock traded down $0.80 on Monday, hitting $96.37. 520,308 shares of the stock were exchanged, compared to its average volume of 2,369,726. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.48 and a quick ratio of 1.08. The stock has a market capitalization of $44.76 billion, a P/E ratio of 8.23, a P/E/G ratio of 1.46 and a beta of 0.94. Phillips 66 has a fifty-two week low of $78.44 and a fifty-two week high of $123.97.
Phillips 66 (NYSE:PSX) last released its earnings results on Friday, February 8th. The oil and gas company reported $4.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $2.11. The business had revenue of $29.84 billion for the quarter, compared to analyst estimates of $35.51 billion. Phillips 66 had a return on equity of 21.71% and a net margin of 4.90%. During the same quarter in the prior year, the company posted $1.07 earnings per share. Equities analysts expect that Phillips 66 will post 7.95 EPS for the current year.
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Phillips 66 Company Profile
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.
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