Community Bank & Trust Waco Texas Has $4.59 Million Stock Position in Phillips 66 (NYSE:PSX)

Community Bank & Trust Waco Texas lifted its position in Phillips 66 (NYSE:PSX) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,517 shares of the oil and gas company’s stock after acquiring an additional 345 shares during the quarter. Community Bank & Trust Waco Texas’ holdings in Phillips 66 were worth $4,590,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Larson Financial Group LLC lifted its stake in Phillips 66 by 204.6% in the 2nd quarter. Larson Financial Group LLC now owns 3,869 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 2,599 shares in the last quarter. Foundations Investment Advisors LLC increased its holdings in shares of Phillips 66 by 22.2% in the 2nd quarter. Foundations Investment Advisors LLC now owns 3,959 shares of the oil and gas company’s stock valued at $559,000 after purchasing an additional 720 shares during the period. Cozad Asset Management Inc. lifted its position in shares of Phillips 66 by 38.0% in the second quarter. Cozad Asset Management Inc. now owns 40,382 shares of the oil and gas company’s stock worth $5,701,000 after purchasing an additional 11,121 shares in the last quarter. Archer Investment Corp increased its stake in Phillips 66 by 91.3% in the 2nd quarter. Archer Investment Corp now owns 1,006 shares of the oil and gas company’s stock valued at $142,000 after buying an additional 480 shares during the period. Finally, Founders Financial Securities LLC lifted its position in Phillips 66 by 14.6% in the 2nd quarter. Founders Financial Securities LLC now owns 3,659 shares of the oil and gas company’s stock worth $517,000 after buying an additional 466 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE PSX traded down $0.99 during trading on Wednesday, hitting $134.01. The company’s stock had a trading volume of 310,405 shares, compared to its average volume of 2,615,931. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The firm has a market cap of $56.09 billion, a P/E ratio of 10.42, a price-to-earnings-growth ratio of 2.53 and a beta of 1.33. The firm has a 50 day moving average price of $137.78 and a 200 day moving average price of $145.14. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. During the same quarter in the previous year, the firm posted $3.87 earnings per share. Phillips 66’s revenue was up 8.9% compared to the same quarter last year. Equities research analysts forecast that Phillips 66 will post 9.25 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s payout ratio is presently 35.38%.

Analyst Ratings Changes

PSX has been the topic of a number of research reports. Raymond James upped their price target 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. Scotiabank dropped their price objective on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Argus reiterated a “buy” rating and issued a $167.00 target price on shares of Phillips 66 in a research note on Thursday, May 30th. Mizuho cut their price target on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Finally, TD Cowen upped their price objective on shares of Phillips 66 from $155.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $157.85.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.22% of the stock is owned by company insiders.

Phillips 66 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.