Glenview Trust co Buys 538 Shares of Phillips 66 (NYSE:PSX)

Glenview Trust co lifted its holdings in Phillips 66 (NYSE:PSX) by 6.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,168 shares of the oil and gas company’s stock after purchasing an additional 538 shares during the quarter. Glenview Trust co’s holdings in Phillips 66 were worth $1,045,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PSX. Glass Wealth Management Co LLC lifted its position in shares of Phillips 66 by 4.4% in the third quarter. Glass Wealth Management Co LLC now owns 30,739 shares of the oil and gas company’s stock worth $4,041,000 after purchasing an additional 1,295 shares in the last quarter. TrinityPoint Wealth LLC increased its holdings in Phillips 66 by 2.4% during the third quarter. TrinityPoint Wealth LLC now owns 5,312 shares of the oil and gas company’s stock worth $698,000 after buying an additional 122 shares during the last quarter. Aljian Capital Management LLC acquired a new position in Phillips 66 during the third quarter worth $331,000. Islay Capital Management LLC increased its holdings in Phillips 66 by 6.5% during the third quarter. Islay Capital Management LLC now owns 4,935 shares of the oil and gas company’s stock worth $649,000 after buying an additional 300 shares during the last quarter. Finally, Quest Partners LLC increased its holdings in Phillips 66 by 324,800.0% during the third quarter. Quest Partners LLC now owns 3,249 shares of the oil and gas company’s stock worth $427,000 after buying an additional 3,248 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PSX shares. Mizuho lowered their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Wells Fargo & Company boosted their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. Finally, Barclays upped their price objective on shares of Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a report on Friday. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $149.43.

Phillips 66 Trading Up 2.0 %

PSX opened at $129.27 on Tuesday. Phillips 66 has a twelve month low of $108.91 and a twelve month high of $174.08. The company has a 50-day simple moving average of $123.11 and a 200 day simple moving average of $125.85. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $52.70 billion, a price-to-earnings ratio of 26.17, a P/E/G ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the prior year, the firm posted $3.09 EPS. Analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $1.15 per share. The ex-dividend date was Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.56%. Phillips 66’s dividend payout ratio is 93.12%.

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.