First American Trust FSB Sells 908 Shares of Phillips 66 (NYSE:PSX)

First American Trust FSB trimmed its position in Phillips 66 (NYSE:PSX) by 14.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 5,321 shares of the oil and gas company’s stock after selling 908 shares during the period. First American Trust FSB’s holdings in Phillips 66 were worth $606,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in PSX. Raymond James Financial Inc. bought a new stake in Phillips 66 during the 4th quarter worth about $168,790,000. Amundi raised its stake in shares of Phillips 66 by 25.7% during the fourth quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock worth $428,081,000 after buying an additional 753,653 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Phillips 66 by 7.3% during the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after buying an additional 639,323 shares during the last quarter. Bank of Montreal Can lifted its holdings in Phillips 66 by 63.4% in the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock valued at $214,120,000 after buying an additional 633,970 shares during the period. Finally, Weiss Asset Management LP acquired a new stake in Phillips 66 during the 3rd quarter worth $34,042,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $126.56 on Tuesday. The company has a fifty day moving average price of $124.32 and a 200 day moving average price of $125.58. The firm has a market cap of $51.60 billion, a PE ratio of 25.62, a PEG ratio of 4.84 and a beta of 1.31. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 1-year low of $108.91 and a 1-year high of $174.08.

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

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a dividend of $1.15 per share. The ex-dividend date was Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 3.63%. Phillips 66’s dividend payout ratio is currently 93.12%.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of analyst reports. Wells Fargo & Company increased their price target on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Wolfe Research upgraded 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. Barclays boosted their target price on Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Finally, StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.54.

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.