Adirondack Trust Co. Sells 439 Shares of Phillips 66 $PSX

Adirondack Trust Co. decreased its position in shares of Phillips 66 (NYSE:PSX) by 4.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,433 shares of the oil and gas company’s stock after selling 439 shares during the quarter. Adirondack Trust Co.’s holdings in Phillips 66 were worth $1,125,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. von Borstel & Associates Inc. bought a new stake in shares of Phillips 66 during the first quarter valued at approximately $27,000. Olde Wealth Management LLC bought a new stake in Phillips 66 during the first quarter worth $28,000. Wood Tarver Financial Group LLC bought a new stake in Phillips 66 during the fourth quarter worth $29,000. Opal Wealth Advisors LLC bought a new stake in Phillips 66 during the first quarter worth $29,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in Phillips 66 during the first quarter worth $29,000. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

In other news, Director Michael A. Heim bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The stock was purchased at an average price of $125.97 per share, with a total value of $125,970.00. Following the transaction, the director owned 12,043 shares of the company’s stock, valued at approximately $1,517,056.71. The trade was a 9.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $135.00, for a total value of $593,055.00. Following the completion of the transaction, the executive vice president directly owned 38,980 shares of the company’s stock, valued at $5,262,300. This represents a 10.13% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 9,850 shares of company stock valued at $1,188,910. 0.22% of the stock is owned by insiders.

Phillips 66 Stock Performance

NYSE:PSX opened at $129.39 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $140.60. The firm has a market cap of $52.29 billion, a price-to-earnings ratio of 31.10, a PEG ratio of 1.88 and a beta of 1.15. The business’s fifty day moving average is $127.04 and its 200 day moving average is $119.78.

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

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were given a dividend of $1.20 per share. The ex-dividend date was Tuesday, August 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. Phillips 66’s dividend payout ratio is 115.38%.

Analysts Set New Price Targets

PSX has been the subject of several recent research reports. Evercore ISI upped their price target on Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday. Cantor Fitzgerald initiated coverage on Phillips 66 in a report on Wednesday, June 18th. They set a “neutral” rating for the company. JPMorgan Chase & Co. set a $115.00 price target on Phillips 66 in a report on Wednesday, June 18th. Scotiabank reissued a “sector perform” rating and issued a $133.00 price objective on shares of Phillips 66 in a research report on Friday, July 11th. Finally, Barclays boosted their price objective on Phillips 66 from $115.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 9th. One research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $138.94.

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.