Stock Yards Bank & Trust Co. Has $3.32 Million Stake in Phillips 66 (NYSE:PSX)

Stock Yards Bank & Trust Co. decreased its position in shares of Phillips 66 (NYSE:PSX) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,923 shares of the oil and gas company’s stock after selling 1,256 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Phillips 66 were worth $3,318,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale lifted its position in Phillips 66 by 12.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after acquiring an additional 22,278 shares during the last quarter. Eldred Rock Partners LLC bought a new position in shares of Phillips 66 during the 4th quarter worth about $10,402,000. Choate Investment Advisors bought a new position in shares of Phillips 66 during the 3rd quarter worth about $247,000. First Dallas Securities Inc. bought a new position in shares of Phillips 66 during the 3rd quarter worth about $753,000. Finally, TIAA Trust National Association increased its holdings in shares of Phillips 66 by 32.9% during the 4th quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after purchasing an additional 3,670 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Up 1.5 %

Shares of NYSE:PSX opened at $157.05 on Tuesday. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. The company has a market capitalization of $67.19 billion, a PE ratio of 10.15, a PEG ratio of 1.92 and a beta of 1.37. The company has a 50 day moving average price of $154.65 and a two-hundred day moving average price of $135.96.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The firm had revenue of $38.74 billion for the quarter, compared to analyst estimates of $34.30 billion. Analysts forecast that Phillips 66 will post 13.45 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio (DPR) is 27.15%.

Analyst Upgrades and Downgrades

PSX has been the topic of several research reports. Scotiabank boosted their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Bank of America boosted their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Raymond James boosted their price objective on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Mizuho dropped their price objective on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Finally, StockNews.com cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th. 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 currently has an average rating of “Moderate Buy” and an average target price of $158.00.

Insider Activity

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