Passumpsic Savings Bank Buys New Position in Phillips 66 $PSX

Passumpsic Savings Bank bought a new stake in shares of Phillips 66 (NYSE:PSX) in the 4th quarter, Holdings Channel.com reports. The firm bought 3,765 shares of the oil and gas company’s stock, valued at approximately $486,000.

Several other large investors also recently added to or reduced their stakes in the business. Board of the Pension Protection Fund purchased a new position in Phillips 66 during the fourth quarter valued at approximately $26,000. Accordant Advisory Group Inc lifted its holdings in Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 180 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in Phillips 66 during the fourth quarter valued at approximately $27,000. Stephens Consulting LLC lifted its holdings in Phillips 66 by 67.7% during the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 90 shares in the last quarter. Finally, Dorato Capital Management purchased a new position in Phillips 66 during the fourth quarter valued at approximately $35,000. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Scotiabank lifted their price target on shares of Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Weiss Ratings downgraded shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Zacks Research raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Argus lifted their price target on shares of Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a report on Thursday. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $180.00 price target on shares of Phillips 66 in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $186.28.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $176.42 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. The firm has a fifty day moving average price of $170.79 and a 200 day moving average price of $151.93. Phillips 66 has a fifty-two week low of $109.75 and a fifty-two week high of $190.61. The firm has a market cap of $70.73 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 0.26 and a beta of 0.70.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same quarter in the prior year, the business earned ($0.90) earnings per share. Phillips 66’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, sell-side analysts expect that Phillips 66 will post 17.64 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be given a dividend of $1.27 per share. The ex-dividend date is Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.9%. Phillips 66’s dividend payout ratio is currently 50.05%.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 29,400 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the completion of the transaction, the chief financial officer owned 97,376 shares in the company, valued at approximately $16,553,920. This represents a 23.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lisa Ann Davis sold 3,800 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $174.37, for a total transaction of $662,606.00. Following the transaction, the director owned 8,701 shares of the company’s stock, valued at approximately $1,517,193.37. This represents a 30.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 121,529 shares of company stock valued at $20,841,455 in the last quarter. Company insiders own 0.40% of the company’s stock.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.