Huntington National Bank Cuts Position in Phillips 66 (PSX)

Huntington National Bank lessened its holdings in Phillips 66 (NYSE:PSX) by 3.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,413 shares of the oil and gas company’s stock after selling 3,950 shares during the quarter. Huntington National Bank’s holdings in Phillips 66 were worth $11,882,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Acropolis Investment Management LLC purchased a new stake in Phillips 66 in the 2nd quarter worth approximately $106,000. Tuttle Tactical Management purchased a new stake in Phillips 66 in the 2nd quarter worth approximately $107,000. Baker Ellis Asset Management LLC purchased a new stake in Phillips 66 in the 2nd quarter worth approximately $111,000. Kaizen Advisory LLC boosted its position in Phillips 66 by 144.3% in the 2nd quarter. Kaizen Advisory LLC now owns 1,004 shares of the oil and gas company’s stock worth $113,000 after purchasing an additional 593 shares in the last quarter. Finally, Omnia Family Wealth LLC boosted its position in Phillips 66 by 3,040.6% in the 2nd quarter. Omnia Family Wealth LLC now owns 1,005 shares of the oil and gas company’s stock worth $113,000 after purchasing an additional 973 shares in the last quarter. Institutional investors own 69.57% of the company’s stock.

Shares of NYSE:PSX opened at $109.12 on Friday. Phillips 66 has a 1 year low of $89.14 and a 1 year high of $123.97. The company has a market cap of $50.50 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 1.59 and a beta of 1.00. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.24.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, July 27th. The oil and gas company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.64. The firm had revenue of $29.74 billion for the quarter, compared to analyst estimates of $29.40 billion. Phillips 66 had a return on equity of 12.87% and a net margin of 5.34%. During the same quarter last year, the firm posted $1.09 EPS. Sell-side analysts expect that Phillips 66 will post 8.04 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 19th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, November 16th. This represents a $3.20 dividend on an annualized basis and a yield of 2.93%. Phillips 66’s payout ratio is currently 73.06%.

Several equities research analysts have commented on PSX shares. Morgan Stanley upped their price objective on Phillips 66 from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, July 16th. Zacks Investment Research upgraded Phillips 66 from a “hold” rating to a “buy” rating and set a $137.00 price objective on the stock in a research report on Wednesday, August 1st. Mizuho started coverage on Phillips 66 in a research report on Wednesday, August 1st. They issued a “neutral” rating and a $124.00 price objective on the stock. Citigroup upped their price objective on Phillips 66 from $124.00 to $126.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 15th. Finally, ValuEngine lowered Phillips 66 from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $119.45.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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