Trust Co. of Vermont Cuts Position in Phillips 66 (NYSE:PSX)

Trust Co. of Vermont trimmed its position in shares of Phillips 66 (NYSE:PSX) by 8.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,360 shares of the oil and gas company’s stock after selling 420 shares during the period. Trust Co. of Vermont’s holdings in Phillips 66 were worth $538,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PSX. Forum Financial Management LP increased its position in Phillips 66 by 1.0% during the 4th quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company’s stock worth $853,000 after purchasing an additional 77 shares in the last quarter. NewEdge Wealth LLC grew its holdings in Phillips 66 by 0.5% in the 4th quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock valued at $1,732,000 after buying an additional 81 shares during the period. Nwam LLC grew its holdings in Phillips 66 by 2.2% in the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock valued at $442,000 after buying an additional 85 shares during the period. PFG Private Wealth Management LLC grew its holdings in Phillips 66 by 7.7% in the 4th quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company’s stock valued at $140,000 after buying an additional 88 shares during the period. Finally, Tortoise Investment Management LLC grew its holdings in Phillips 66 by 16.1% in the 4th quarter. Tortoise Investment Management LLC now owns 633 shares of the oil and gas company’s stock valued at $72,000 after buying an additional 88 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

Shares of PSX opened at $119.43 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.23 and a quick ratio of 0.88. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $150.12. The stock has a fifty day moving average price of $114.67 and a 200 day moving average price of $116.93. The company has a market cap of $48.66 billion, a P/E ratio of 27.21, a PEG ratio of 1.87 and a beta of 1.02.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The business had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. During the same quarter last year, the firm posted $1.90 EPS. On average, research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $1.20 dividend. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date was Monday, May 19th. This represents a $4.80 annualized dividend and a dividend yield of 4.02%. Phillips 66’s dividend payout ratio is 109.34%.

Insider Activity

In related news, EVP Brian Mandell sold 9,800 shares of the business’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the transaction, the executive vice president now directly owns 56,838 shares of the company’s stock, valued at approximately $7,104,750. The trade was a 14.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert W. Pease purchased 439 shares of the stock in a transaction dated Thursday, May 22nd. The shares were bought at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the acquisition, the director now owns 4,091 shares in the company, valued at $465,760.35. This represents a 12.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Scotiabank reduced their price objective on Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. The Goldman Sachs Group lowered Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price target on the stock. in a research report on Thursday, March 27th. Mizuho lifted their price objective on Phillips 66 from $132.00 to $138.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. Barclays lifted their price objective on Phillips 66 from $106.00 to $115.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Finally, Compass Point initiated coverage on Phillips 66 in a report on Wednesday, June 18th. They issued a “buy” rating for the company. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.93.

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.