Farmers & Merchants Trust Co of Chambersburg PA Has $324,000 Stock Holdings in Phillips 66 $PSX

Farmers & Merchants Trust Co of Chambersburg PA trimmed its stake in shares of Phillips 66 (NYSE:PSX) by 6.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,714 shares of the oil and gas company’s stock after selling 177 shares during the quarter. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Phillips 66 were worth $324,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PSX. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Phillips 66 by 22.5% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 60,286 shares of the oil and gas company’s stock valued at $7,192,000 after acquiring an additional 11,060 shares during the period. KMG Fiduciary Partners LLC increased its position in Phillips 66 by 4.9% in the 2nd quarter. KMG Fiduciary Partners LLC now owns 20,369 shares of the oil and gas company’s stock valued at $2,430,000 after acquiring an additional 953 shares during the period. Signal Advisors Wealth LLC acquired a new position in Phillips 66 in the 2nd quarter valued at approximately $253,000. Sovran Advisors LLC acquired a new position in Phillips 66 in the 2nd quarter valued at approximately $324,000. Finally, Chickasaw Capital Management LLC increased its position in Phillips 66 by 2.4% in the 2nd quarter. Chickasaw Capital Management LLC now owns 152,444 shares of the oil and gas company’s stock valued at $18,187,000 after acquiring an additional 3,635 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PSX shares. Citigroup lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and upped their price objective for the company from $126.00 to $130.00 in a research note on Wednesday, July 16th. Scotiabank reaffirmed a “sector perform” rating and issued a $133.00 price objective on shares of Phillips 66 in a research note on Friday, July 11th. Evercore ISI started coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued an “outperform” rating and a $130.00 price objective on the stock. Wells Fargo & Company reduced their price objective on shares of Phillips 66 from $149.00 to $147.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 11th. Finally, JPMorgan Chase & Co. set a $115.00 price objective on shares of Phillips 66 in a research note on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $136.44.

Phillips 66 Trading Up 0.0%

Shares of Phillips 66 stock opened at $133.08 on Thursday. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $140.60. The firm has a market cap of $53.78 billion, a PE ratio of 31.99, a PEG ratio of 1.99 and a beta of 1.15. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The company has a 50 day simple moving average of $127.15 and a two-hundred day simple moving average of $119.69.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.59. The firm had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same period in the previous year, the business posted $2.31 EPS. Analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Phillips 66’s payout ratio is presently 115.38%.

Insider Activity

In related news, Director Sigmund L. Cornelius acquired 500 shares of Phillips 66 stock in a transaction on Thursday, July 31st. The shares were acquired at an average cost of $123.55 per share, with a total value of $61,775.00. Following the transaction, the director owned 21,543 shares in the company, valued at $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $135.00, for a total transaction of $593,055.00. Following the transaction, the executive vice president directly owned 38,980 shares in the company, valued at approximately $5,262,300. The trade was a 10.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased 9,850 shares of company stock valued at $1,188,910 in the last three months. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 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.