Bryn Mawr Trust Advisors LLC Lowers Stake in Phillips 66 $PSX

Bryn Mawr Trust Advisors LLC lessened its stake in shares of Phillips 66 (NYSE:PSX) by 4.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,700 shares of the oil and gas company’s stock after selling 3,301 shares during the quarter. Bryn Mawr Trust Advisors LLC’s holdings in Phillips 66 were worth $12,880,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PSX. Board of the Pension Protection Fund bought a new stake in Phillips 66 during the fourth quarter valued at about $26,000. Accordant Advisory Group Inc grew its stake in Phillips 66 by 900.0% in the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in Phillips 66 in the fourth quarter worth about $27,000. SWAN Capital LLC raised its holdings in Phillips 66 by 1,055.6% in the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 190 shares in the last quarter. Finally, Stephens Consulting LLC lifted its position in shares of Phillips 66 by 67.7% during the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 90 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of recent analyst reports. Wolfe Research raised their price target on shares of Phillips 66 from $187.00 to $193.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Jefferies Financial Group boosted their price objective on shares of Phillips 66 from $191.00 to $207.00 and gave the stock a “hold” rating in a research note on Thursday. Mizuho raised shares of Phillips 66 from a “neutral” rating to an “outperform” rating and increased their target price for the company from $170.00 to $212.00 in a research report on Wednesday, May 27th. Scotiabank lifted their price target on shares of Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Finally, Barclays upped their price target on Phillips 66 from $177.00 to $183.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $194.89.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Kevin Omar Meyers acquired 175 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were purchased at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the purchase, the director directly owned 16,799 shares of the company’s stock, valued at $2,908,242.88. The trade was a 1.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin J. Mitchell sold 11,021 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the transaction, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $18,504,361.28. This trade represents a 10.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 41,021 shares of company stock worth $7,195,257 over the last ninety days. Insiders own 0.40% of the company’s stock.

Phillips 66 Trading Up 5.1%

Shares of NYSE:PSX opened at $198.00 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. Phillips 66 has a 52-week low of $118.07 and a 52-week high of $198.58. The stock has a market cap of $79.38 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 0.25 and a beta of 0.69. The business has a 50-day moving average price of $176.76 and a 200-day moving average price of $163.69.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same quarter in the prior year, the firm earned ($0.90) earnings per share. Phillips 66’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts predict that Phillips 66 will post 19.3 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 2.6%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s payout ratio is presently 50.05%.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.