WASHINGTON TRUST Co Has $330,000 Position in Phillips 66 (NYSE:PSX)

WASHINGTON TRUST Co reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 7.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,475 shares of the oil and gas company’s stock after selling 200 shares during the quarter. WASHINGTON TRUST Co’s holdings in Phillips 66 were worth $330,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Cornerstone Planning Group LLC grew its holdings in Phillips 66 by 134.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 151 shares during the period. First Capital Advisors Group LLC. bought a new position in shares of Phillips 66 during the 2nd quarter worth about $25,000. Bruce G. Allen Investments LLC bought a new position in shares of Phillips 66 during the 4th quarter worth about $36,000. Bell Investment Advisors Inc boosted its position in shares of Phillips 66 by 82.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 138 shares in the last quarter. Finally, Worth Asset Management LLC bought a new position in shares of Phillips 66 during the 1st quarter worth about $32,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PSX. The Goldman Sachs Group increased their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Citigroup started coverage on shares of Phillips 66 in a research report on Wednesday, January 24th. They issued a “buy” rating on the stock. Raymond James raised their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Mizuho raised their price target on shares of Phillips 66 from $135.00 to $167.00 and gave the company a “neutral” rating in a research report on Friday, March 22nd. Finally, StockNews.com raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday, February 10th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.69.

Insider Transactions at Phillips 66

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the sale, the vice president now owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert W. Pease acquired 682 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average cost of $146.58 per share, with a total value of $99,967.56. Following the purchase, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The disclosure for this purchase can be found here. Insiders sold 40,309 shares of company stock valued at $5,981,836 over the last three months. Company insiders own 4.57% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX traded up $3.88 during trading hours on Thursday, reaching $162.84. The stock had a trading volume of 1,543,023 shares, compared to its average volume of 3,156,324. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. The stock has a 50 day simple moving average of $145.66 and a 200 day simple moving average of $130.14. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $162.86. The stock has a market cap of $69.67 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 2.08 and a beta of 1.36.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The business had revenue of $38.74 billion during the quarter, compared to the consensus estimate of $34.30 billion. On average, research analysts forecast that Phillips 66 will post 12.55 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Tuesday, February 20th were given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Friday, February 16th. Phillips 66’s dividend payout ratio is currently 27.15%.

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.