Farmers & Merchants Trust Co of Chambersburg PA Sells 7,867 Shares of Phillips 66 (NYSE:PSX)

Farmers & Merchants Trust Co of Chambersburg PA trimmed its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 73.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,891 shares of the oil and gas company's stock after selling 7,867 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA's holdings in Phillips 66 were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock worth $1,166,000 after purchasing an additional 7,214 shares during the last quarter. NewEdge Wealth LLC grew its holdings in Phillips 66 by 0.5% during the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company's stock worth $1,732,000 after purchasing an additional 81 shares during the period. Nwam LLC increased its position in Phillips 66 by 2.2% during the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company's stock worth $442,000 after buying an additional 85 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Phillips 66 in the fourth quarter valued at approximately $16,771,000. Finally, Parkside Financial Bank & Trust raised its stake in Phillips 66 by 4.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,384 shares of the oil and gas company's stock valued at $272,000 after buying an additional 103 shares during the period. 76.93% of the stock is owned by institutional investors.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Brian Mandell sold 9,800 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the completion of the transaction, the executive vice president now directly owns 56,838 shares in the company, valued at $7,104,750. The trade was a 14.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert W. Pease bought 439 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was acquired at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the transaction, the director now owns 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 disclosure for this purchase can be found here. 0.22% of the stock is owned by insiders.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $119.43 on Monday. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12. The company's 50 day moving average price is $114.67 and its two-hundred day moving average price is $116.82. The firm has a market cap of $48.66 billion, a PE ratio of 27.21, a PEG ratio of 1.86 and a beta of 1.02. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63.

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

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a $1.20 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.02%. This is a boost from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend payout ratio (DPR) is presently 109.34%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PSX shares. Barclays boosted their target price on Phillips 66 from $106.00 to $115.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Wall Street Zen upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Cantor Fitzgerald began coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They set a "neutral" rating for the company. TD Cowen upped their price target on shares of Phillips 66 from $114.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company cut their price objective on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $133.93.

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.

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