Community Bank & Trust Waco Texas Buys 13,232 Shares of Phillips 66 (NYSE:PSX)

Community Bank & Trust Waco Texas lifted its position in shares of Phillips 66 (NYSE:PSX) by 76.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,643 shares of the oil and gas company’s stock after purchasing an additional 13,232 shares during the period. Community Bank & Trust Waco Texas’ holdings in Phillips 66 were worth $4,080,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PSX. Cardinal Capital Management increased its position in Phillips 66 by 0.3% in the fourth quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock worth $3,104,000 after buying an additional 77 shares in the last quarter. Aaron Wealth Advisors LLC raised its position in shares of Phillips 66 by 3.6% during the 4th quarter. Aaron Wealth Advisors LLC now owns 2,340 shares of the oil and gas company’s stock valued at $312,000 after buying an additional 82 shares in the last quarter. Cornerstone Wealth Management LLC lifted its stake in shares of Phillips 66 by 1.3% in the 4th quarter. Cornerstone Wealth Management LLC now owns 6,495 shares of the oil and gas company’s stock valued at $865,000 after purchasing an additional 86 shares during the last quarter. Stratos Wealth Partners LTD. boosted its stake in Phillips 66 by 0.4% during the fourth quarter. Stratos Wealth Partners LTD. now owns 22,214 shares of the oil and gas company’s stock worth $2,958,000 after buying an additional 90 shares during the period. Finally, West Branch Capital LLC increased its position in Phillips 66 by 49.5% during the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 91 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Price Performance

Shares of Phillips 66 stock traded down $2.35 on Wednesday, hitting $156.49. 492,485 shares of the company were exchanged, compared to its average volume of 2,945,725. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average price of $154.93 and a 200 day moving average price of $136.31. The stock has a market capitalization of $66.95 billion, a price-to-earnings ratio of 10.27, a price-to-earnings-growth ratio of 1.95 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The firm had revenue of $38.74 billion for the quarter, compared to analysts’ expectations of $34.30 billion. As a group, sell-side analysts predict that Phillips 66 will post 13.45 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a dividend of $1.15 per share. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 2.94%. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio is presently 27.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Bank of America upped their target price on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. JPMorgan Chase & Co. raised their price target on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Mizuho lowered their target price on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. The Goldman Sachs Group boosted their target price on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, Raymond James increased their price target on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.00.

Insider Activity at Phillips 66

In related news, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the transaction, the vice president now owns 6,583 shares in the company, valued at $1,036,164.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert W. Pease bought 682 shares of the stock in a transaction dated Thursday, February 15th. The shares were acquired at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the transaction, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The disclosure for this purchase can be found here. Over the last three months, insiders sold 35,056 shares of company stock worth $5,272,681. Company insiders own 0.22% of the company’s stock.

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.