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Country Club Bank Reduces Stake in Phillips 66 (NYSE:PSX)

Phillips 66 logo with Energy background

Country Club Bank lowered its holdings in Phillips 66 (NYSE:PSX - Free Report) by 26.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 7,267 shares of the oil and gas company's stock after selling 2,630 shares during the quarter. Country Club Bank's holdings in Phillips 66 were worth $885,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PSX. Brighton Jones LLC lifted its holdings in Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock worth $1,166,000 after buying an additional 7,214 shares during the period. Proficio Capital Partners LLC purchased a new stake in Phillips 66 in the 4th quarter worth approximately $16,771,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Phillips 66 by 2.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 88,085 shares of the oil and gas company's stock worth $10,036,000 after buying an additional 2,477 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of Phillips 66 by 4.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 29,532 shares of the oil and gas company's stock worth $3,365,000 after acquiring an additional 1,236 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Phillips 66 by 5.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,934 shares of the oil and gas company's stock worth $562,000 after acquiring an additional 239 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Down 2.0%

Phillips 66 stock opened at $131.66 on Friday. The firm has a market cap of $53.64 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 2.12 and a beta of 1.02. The stock has a fifty day simple moving average of $119.47 and a two-hundred day simple moving average of $117.73. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $150.12. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. The firm had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. During the same period in the previous year, the firm earned $1.90 EPS. Equities analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66's dividend payout ratio is presently 109.34%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Robert W. Pease acquired 439 shares of the stock in a transaction dated Thursday, May 22nd. The shares were acquired at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the transaction, the director directly owned 4,091 shares of the company's stock, valued at approximately $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total value of $571,090.00. Following the completion of the transaction, the executive vice president owned 43,373 shares in the company, valued at $5,638,490. The trade was a 9.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PSX. Wells Fargo & Company decreased their target price on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. Tudor Pickering lowered Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Evercore ISI began coverage on Phillips 66 in a research report on Wednesday, June 18th. They issued an "outperform" rating and a $130.00 target price for the company. Cantor Fitzgerald began coverage on Phillips 66 in a research report on Wednesday, June 18th. They issued a "neutral" rating for the company. Finally, Compass Point began coverage on Phillips 66 in a research report on Wednesday, June 18th. They set a "buy" rating for the company. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of "Moderate Buy" and an average target price of $135.07.

Read Our Latest Report on PSX

Phillips 66 Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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