Phillips 66 (NYSE:PSX) Shares Sold by Bangor Savings Bank

Bangor Savings Bank cut its stake in Phillips 66 (NYSE:PSX) by 3.3% during the 4th quarter, HoldingsChannel reports. The fund owned 11,959 shares of the oil and gas company’s stock after selling 414 shares during the period. Bangor Savings Bank’s holdings in Phillips 66 were worth $1,362,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its stake in shares of Phillips 66 by 0.5% in the 2nd quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock valued at $522,240,000 after purchasing an additional 18,238 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Phillips 66 by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock valued at $514,253,000 after buying an additional 111,261 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Phillips 66 by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock worth $381,453,000 after buying an additional 16,941 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Phillips 66 by 2.9% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company’s stock valued at $397,193,000 after acquiring an additional 79,301 shares during the last quarter. Finally, Mizuho Securities USA LLC raised its position in shares of Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after acquiring an additional 2,467,316 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $115.05 on Tuesday. The stock has a market cap of $47.51 billion, a P/E ratio of 14.77, a P/E/G ratio of 4.06 and a beta of 1.38. The firm’s 50-day simple moving average is $123.61 and its 200 day simple moving average is $131.03. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. Phillips 66’s revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $4.63 EPS. Equities analysts expect that Phillips 66 will post 7.56 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date was Monday, November 18th. Phillips 66’s payout ratio is currently 59.05%.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of research reports. UBS Group decreased their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Bank of America started coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target for the company. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research note on Friday. Mizuho decreased their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Finally, Piper Sandler set a $144.00 price target on Phillips 66 in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $148.57.

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.