Trustmark National Bank Trust Department Sells 2,755 Shares of Phillips 66 (NYSE:PSX)

Trustmark National Bank Trust Department lowered its holdings in Phillips 66 (NYSE:PSX - Free Report) by 36.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,749 shares of the oil and gas company's stock after selling 2,755 shares during the period. Trustmark National Bank Trust Department's holdings in Phillips 66 were worth $541,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PSX. Savvy Advisors Inc. grew its holdings in Phillips 66 by 21.5% during the fourth quarter. Savvy Advisors Inc. now owns 3,663 shares of the oil and gas company's stock valued at $417,000 after purchasing an additional 649 shares during the last quarter. WealthTrust Axiom LLC increased its holdings in shares of Phillips 66 by 3.0% during the 4th quarter. WealthTrust Axiom LLC now owns 7,160 shares of the oil and gas company's stock worth $816,000 after purchasing an additional 206 shares during the period. Advisors Capital Management LLC raised its position in shares of Phillips 66 by 3.5% during the fourth quarter. Advisors Capital Management LLC now owns 59,431 shares of the oil and gas company's stock valued at $6,771,000 after buying an additional 2,019 shares during the last quarter. Sagespring Wealth Partners LLC bought a new stake in shares of Phillips 66 in the fourth quarter valued at about $292,000. Finally, Townsquare Capital LLC increased its stake in Phillips 66 by 9.7% during the fourth quarter. Townsquare Capital LLC now owns 26,474 shares of the oil and gas company's stock valued at $3,016,000 after acquiring an additional 2,349 shares during the period. Institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Up 2.4 %

Shares of Phillips 66 stock traded up $2.31 during trading on Friday, reaching $98.88. The stock had a trading volume of 2,437,239 shares, compared to its average volume of 2,893,251. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $40.29 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 4.84 and a beta of 1.17. The stock has a fifty day moving average price of $118.36 and a two-hundred day moving average price of $122.44. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $159.25.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the firm posted $3.09 earnings per share. Sell-side analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date was Monday, February 24th. Phillips 66's dividend payout ratio (DPR) is currently 93.12%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Phillips 66 from $161.00 to $162.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Scotiabank dropped their price objective on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Piper Sandler cut shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. Wolfe Research raised Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price objective on the stock in a report on Friday, January 3rd. Finally, Mizuho cut their target price on Phillips 66 from $140.00 to $132.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Phillips 66 currently has an average rating of "Moderate Buy" and an average price target of $142.00.

About Phillips 66

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.