Intrust Bank NA Sells 10,456 Shares of Phillips 66 $PSX

Key Points

• Intrust Bank NA cut its Phillips 66 stake by 51.3% in the fourth quarter, selling 10,456 shares and leaving it with 9,934 shares worth about $1.28 million.
• Phillips 66 reported Q1 earnings of $0.49 per share, beating analyst expectations, though revenue of $32.54 billion came in below estimates.
• The company declared a quarterly dividend of $1.27 per share, equal to an annualized yield of 2.8%, while analysts currently rate the stock a Moderate Buy with a consensus target price of $187.11.

Intrust Bank NA lessened its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 51.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,934 shares of the oil and gas company's stock after selling 10,456 shares during the period. Intrust Bank NA's holdings in Phillips 66 were worth $1,282,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PSX. Brighton Jones LLC boosted its holdings 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 valued at $1,166,000 after purchasing an additional 7,214 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of Phillips 66 by 40.7% during the 1st quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company's stock valued at $4,308,000 after purchasing an additional 10,089 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Phillips 66 by 28.3% during the 2nd quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company's stock valued at $18,788,000 after purchasing an additional 34,698 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Phillips 66 by 9.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company's stock valued at $41,359,000 after purchasing an additional 28,988 shares during the last quarter. Finally, Glenview Trust co raised its position in shares of Phillips 66 by 2.6% during the 2nd quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company's stock valued at $1,068,000 after buying an additional 229 shares in the last quarter. Institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Performance

Phillips 66 stock opened at $179.54 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. Phillips 66 has a 1-year low of $109.75 and a 1-year high of $190.61. The firm has a market capitalization of $71.98 billion, a P/E ratio of 17.69, a price-to-earnings-growth ratio of 0.27 and a beta of 0.70. The company's 50-day moving average is $171.72 and its 200 day moving average is $152.86.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same period in the prior year, the company posted ($0.90) EPS. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. Research analysts forecast that Phillips 66 will post 17.64 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, May 18th. Phillips 66's dividend payout ratio is 50.05%.

Analyst Ratings Changes

Several analysts have recently issued reports on PSX shares. Wells Fargo & Company upped their target price on shares of Phillips 66 from $163.00 to $201.00 and gave the company an "overweight" rating in a research report on Tuesday, March 31st. Mizuho upped their target price on shares of Phillips 66 from $152.00 to $170.00 and gave the company a "neutral" rating in a research report on Tuesday, March 17th. Wolfe Research upped their target price on shares of Phillips 66 from $187.00 to $193.00 and gave the company an "outperform" rating in a research report on Monday, April 6th. JPMorgan Chase & Co. upped their target price on shares of Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. Finally, Barclays upped their target price on shares of Phillips 66 from $158.00 to $177.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Phillips 66 presently has an average rating of "Moderate Buy" and a consensus target price of $187.11.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 29,400 shares of the company's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $170.00, for a total value of $4,998,000.00. Following the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at $16,553,920. This represents a 23.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin Omar Meyers bought 175 shares of the company's stock in a transaction on Wednesday, May 6th. The stock was bought at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the purchase, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 114,029 shares of company stock valued at $19,641,455 over the last 90 days. 0.40% of the stock is currently owned by insiders.

Phillips 66 Company Profile

Phillips 66 NYSE: PSX is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company's principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.

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