Trust Co. of Vermont Raises Stock Position in Phillips 66 $PSX

Trust Co. of Vermont boosted its position in shares of Phillips 66 (NYSE:PSX) by 4.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,562 shares of the oil and gas company’s stock after acquiring an additional 202 shares during the period. Trust Co. of Vermont’s holdings in Phillips 66 were worth $544,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. WealthTrust Axiom LLC grew its position in shares of Phillips 66 by 1.1% in the 1st quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock worth $894,000 after buying an additional 81 shares during the period. Wolff Wiese Magana LLC grew its position in shares of Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after buying an additional 82 shares during the period. Magnus Financial Group LLC grew its position in shares of Phillips 66 by 2.8% in the 2nd quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock worth $368,000 after buying an additional 84 shares during the period. Biltmore Wealth Management LLC grew its position in shares of Phillips 66 by 2.4% in the 2nd quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock worth $431,000 after buying an additional 85 shares during the period. Finally, XML Financial LLC grew its position in shares of Phillips 66 by 0.5% in the 2nd quarter. XML Financial LLC now owns 17,541 shares of the oil and gas company’s stock worth $2,093,000 after buying an additional 85 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $140.00, for a total transaction of $615,020.00. Following the transaction, the executive vice president owned 34,587 shares in the company, valued at approximately $4,842,180. This represents a 11.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sigmund L. Cornelius bought 500 shares of the stock in a transaction on Thursday, July 31st. The shares were bought at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the purchase, the director directly owned 21,543 shares in the company, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 9,850 shares of company stock worth $1,188,910 and have sold 13,179 shares worth $1,779,165. Company insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

PSX opened at $134.68 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The stock has a market capitalization of $54.43 billion, a P/E ratio of 32.37, a P/E/G ratio of 1.97 and a beta of 1.11. The company’s 50-day simple moving average is $128.50 and its two-hundred day simple moving average is $120.42. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $142.35.

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

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were paid a dividend of $1.20 per share. The ex-dividend date was Tuesday, August 19th. This represents a $4.80 annualized dividend and a yield of 3.6%. Phillips 66’s dividend payout ratio is currently 115.38%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. TD Cowen upped their target price on shares of Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. Wall Street Zen upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Citigroup cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and upped their price target for the stock from $126.00 to $130.00 in a research note on Wednesday, July 16th. Wells Fargo & Company dropped their price target on shares of Phillips 66 from $149.00 to $147.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 11th. Finally, Raymond James Financial upped their price target on shares of Phillips 66 from $142.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 9th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $139.44.

Phillips 66 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.