Passumpsic Savings Bank Makes New $486,000 Investment in Phillips 66 $PSX

Passumpsic Savings Bank bought a new position in Phillips 66 (NYSE:PSX) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,765 shares of the oil and gas company’s stock, valued at approximately $486,000.

Several other large investors have also bought and sold shares of PSX. Vanguard Group Inc. raised its holdings in Phillips 66 by 11.6% in the third quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company’s stock worth $7,035,574,000 after buying an additional 5,356,558 shares during the last quarter. M&T Bank Corp raised its holdings in Phillips 66 by 462.9% in the fourth quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock worth $352,007,000 after buying an additional 2,243,268 shares during the last quarter. AQR Capital Management LLC raised its holdings in Phillips 66 by 424.7% in the third quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock worth $257,512,000 after buying an additional 1,532,389 shares during the last quarter. Worldquant Millennium Advisors LLC purchased a new position in Phillips 66 in the second quarter worth about $107,967,000. Finally, Holocene Advisors LP raised its holdings in Phillips 66 by 2,433.1% in the second quarter. Holocene Advisors LP now owns 711,599 shares of the oil and gas company’s stock worth $84,894,000 after buying an additional 683,507 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

Shares of PSX stock opened at $176.42 on Monday. The company has a 50 day moving average price of $170.79 and a 200-day moving average price of $151.93. Phillips 66 has a 52 week low of $109.75 and a 52 week high of $190.61. The firm has a market capitalization of $70.73 billion, a PE ratio of 17.38, a P/E/G ratio of 0.26 and a beta of 0.70. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS 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 period in the previous year, the business posted ($0.90) earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities research analysts expect that Phillips 66 will post 17.64 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm 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. This represents a $5.08 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, May 18th. Phillips 66’s payout ratio is 50.05%.

Wall Street Analysts Forecast Growth

PSX has been the subject of several recent analyst reports. Citigroup lifted their target price on shares of Phillips 66 from $159.00 to $183.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Scotiabank lifted their target price on shares of Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Zacks Research upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Barclays lifted their price target on shares of Phillips 66 from $158.00 to $177.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 8th. Finally, Wells Fargo & Company lifted their price target on shares of Phillips 66 from $163.00 to $201.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $186.28.

Insider Activity at Phillips 66

In related news, Director Lisa Ann Davis sold 3,800 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $174.37, for a total transaction of $662,606.00. Following the completion of the sale, the director directly owned 8,701 shares in the company, valued at approximately $1,517,193.37. The trade was a 30.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Don Baldridge sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the sale, the executive vice president owned 38,488 shares of the company’s stock, valued at $6,158,080. This trade represents a 16.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 121,529 shares of company stock valued at $20,841,455 in the last three months. Corporate insiders own 0.40% of the company’s stock.

Phillips 66 Profile

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.