First National Trust Co Has $939,000 Stock Holdings in Phillips 66 (NYSE:PSX)

Key Points

• First National Trust Co reduced its stake in Phillips 66 by 26.7%, currently holding shares worth $939,000 after selling 2,768 shares in the 1st quarter.
• Phillips 66 announced a quarterly dividend of $1.20 to be paid on September 2nd, representing an annual yield of 3.86%.
• The company's latest earnings report revealed earnings per share of $2.38, beating estimates, with total revenue of $33.77 billion for the quarter.

First National Trust Co lowered its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 26.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,607 shares of the oil and gas company's stock after selling 2,768 shares during the quarter. First National Trust Co's holdings in Phillips 66 were worth $939,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PSX. Forum Financial Management LP boosted its holdings in Phillips 66 by 1.0% during the fourth quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company's stock valued at $853,000 after purchasing an additional 77 shares in the last quarter. Smith Moore & CO. boosted its holdings in shares of Phillips 66 by 0.9% in the 4th quarter. Smith Moore & CO. now owns 10,732 shares of the oil and gas company's stock worth $1,223,000 after acquiring an additional 91 shares in the last quarter. CWC Advisors LLC. boosted its holdings in shares of Phillips 66 by 1.0% in the 4th quarter. CWC Advisors LLC. now owns 9,743 shares of the oil and gas company's stock worth $1,110,000 after acquiring an additional 92 shares in the last quarter. Hager Investment Management Services LLC boosted its holdings in shares of Phillips 66 by 7.2% in the 1st quarter. Hager Investment Management Services LLC now owns 1,438 shares of the oil and gas company's stock worth $178,000 after acquiring an additional 96 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Phillips 66 by 14.4% in the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the oil and gas company's stock worth $95,000 after acquiring an additional 97 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.

Insider Transactions at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company's stock in a transaction on 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 directly owned 43,373 shares of the company's stock, valued at approximately $5,638,490. This represents a 9.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert W. Pease bought 439 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 22nd. The stock was bought at an average cost of $113.85 per share, with a total value of $49,980.15. Following the completion of the purchase, the director owned 4,091 shares in the company, valued at approximately $465,760.35. This trade represents a 12.02% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 1,939 shares of company stock worth $237,725. Company insiders own 0.22% of the company's stock.

Phillips 66 Trading Up 1.2%

Shares of PSX traded up $1.43 during trading hours on Monday, reaching $121.03. The stock had a trading volume of 682,585 shares, compared to its average volume of 3,454,101. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $140.85. The firm has a 50-day moving average of $122.41 and a 200 day moving average of $118.89. The company has a market cap of $48.91 billion, a P/E ratio of 29.10, a P/E/G ratio of 1.63 and a beta of 1.09.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The business had revenue of $33.77 billion during the quarter, compared to analysts' expectations of $32.11 billion. During the same quarter in the prior year, the company earned $2.31 EPS. On average, sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a yield of 4.0%. Phillips 66's dividend payout ratio is presently 115.38%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Tudor Pickering downgraded Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Evercore ISI assumed coverage on Phillips 66 in a report on Wednesday, June 18th. They issued an "outperform" rating and a $130.00 target price on the stock. Citigroup downgraded Phillips 66 from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $126.00 to $130.00 in a report on Wednesday, July 16th. Piper Sandler boosted their price objective on shares of Phillips 66 from $144.00 to $145.00 and gave the stock a "neutral" rating in a research report on Monday. Finally, JPMorgan Chase & Co. set a $115.00 price objective on shares of Phillips 66 in a research report on Wednesday, June 18th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $136.20.

Phillips 66 Company 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.