Trust Co. of Vermont Raises Stake in Phillips 66 (NYSE:PSX)

Trust Co. of Vermont grew its holdings in Phillips 66 (NYSE:PSX) by 2.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 4,623 shares of the oil and gas company’s stock after buying an additional 102 shares during the period. Trust Co. of Vermont’s holdings in Phillips 66 were worth $608,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Crewe Advisors LLC purchased a new stake in Phillips 66 during the 1st quarter valued at approximately $25,000. Keener Financial Planning LLC purchased a new stake in shares of Phillips 66 during the first quarter worth approximately $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Phillips 66 during the second quarter worth approximately $26,000. nVerses Capital LLC acquired a new stake in shares of Phillips 66 during the third quarter worth $26,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Phillips 66 in the 1st quarter valued at $28,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a research report on Thursday. Wolfe Research initiated coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Wells Fargo & Company lowered their price objective on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Mizuho cut their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Finally, Scotiabank decreased their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $149.50.

Phillips 66 Trading Down 0.6 %

Shares of Phillips 66 stock opened at $132.60 on Friday. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The business has a 50 day moving average price of $133.18 and a 200 day moving average price of $140.63. The company has a market capitalization of $55.50 billion, a P/E ratio of 11.37, a P/E/G ratio of 5.75 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.87 earnings per share. Sell-side analysts anticipate that Phillips 66 will post 7.85 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.47%. Phillips 66’s dividend payout ratio is currently 39.45%.

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.