Glenview Trust Co Boosts Holdings in Phillips 66 (PSX)
Glenview Trust Co boosted its position in shares of Phillips 66 (NYSE:PSX) by 16.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,046 shares of the oil and gas company’s stock after buying an additional 700 shares during the period. Glenview Trust Co’s holdings in Phillips 66 were worth $510,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of PSX. Rowland & Co. Investment Counsel ADV purchased a new stake in Phillips 66 during the 4th quarter worth approximately $102,000. Bruderman Asset Management LLC purchased a new stake in shares of Phillips 66 in the second quarter valued at approximately $112,000. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Phillips 66 in the second quarter valued at approximately $127,000. FTB Advisors Inc. grew its position in shares of Phillips 66 by 112.9% in the third quarter. FTB Advisors Inc. now owns 1,471 shares of the oil and gas company’s stock valued at $134,000 after purchasing an additional 780 shares in the last quarter. Finally, BB&T Investment Services Inc. purchased a new stake in shares of Phillips 66 in the second quarter valued at approximately $138,000. Institutional investors own 70.17% of the company’s stock.
Phillips 66 (PSX) opened at $92.60 on Friday. Phillips 66 has a twelve month low of $75.14 and a twelve month high of $107.47. The company has a market capitalization of $47,010.00, a P/E ratio of 23.32, a P/E/G ratio of 1.50 and a beta of 1.11. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.31 and a quick ratio of 0.86.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Tuesday, February 20th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Friday, February 16th. Phillips 66’s dividend payout ratio is presently 70.53%.
In related news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $100.25, for a total value of $270,675.00. Following the transaction, the vice president now directly owns 2,700 shares in the company, valued at $270,675. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.50% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Citigroup upped their price target on Phillips 66 from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Piper Jaffray Companies restated a “buy” rating and issued a $115.00 price target on shares of Phillips 66 in a research report on Monday, January 22nd. Royal Bank of Canada restated a “hold” rating and issued a $106.00 price target on shares of Phillips 66 in a research report on Tuesday, January 30th. Morgan Stanley restated an “equal weight” rating on shares of Phillips 66 in a research report on Thursday, January 11th. Finally, Credit Suisse Group assumed coverage on Phillips 66 in a research report on Wednesday, January 3rd. They issued a “neutral” rating and a $108.00 price target for the company. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $101.64.
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Phillips 66 Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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