WASHINGTON TRUST Co Sells 200 Shares of Phillips 66 (NYSE:PSX)

WASHINGTON TRUST Co decreased its position in Phillips 66 (NYSE:PSX) by 7.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Wells Fargo & Company MN increased its position in shares of Phillips 66 by 0.6% during the 2nd quarter. Wells Fargo & Company MN now owns 17,121,154 shares of the oil and gas company’s stock valued at $1,633,016,000 after purchasing an additional 97,198 shares during the last quarter. Moneta Group Investment Advisors LLC grew its position in Phillips 66 by 100,843.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 9,979,304 shares of the oil and gas company’s stock valued at $1,038,646,000 after acquiring an additional 9,969,418 shares during the last quarter. Barclays PLC grew its position in Phillips 66 by 4.2% in the 3rd quarter. Barclays PLC now owns 7,760,709 shares of the oil and gas company’s stock valued at $932,447,000 after acquiring an additional 309,239 shares during the last quarter. Wellington Management Group LLP grew its position in Phillips 66 by 62.1% in the 1st quarter. Wellington Management Group LLP now owns 7,188,087 shares of the oil and gas company’s stock valued at $620,979,000 after acquiring an additional 2,753,700 shares during the last quarter. Finally, Morgan Stanley grew its position in Phillips 66 by 16.2% in the 4th quarter. Morgan Stanley now owns 6,961,625 shares of the oil and gas company’s stock valued at $724,566,000 after acquiring an additional 968,055 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Activity

In other news, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Phillips 66 news, Director Robert W. Pease bought 682 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were bought at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the transaction, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the transaction, the vice president now owns 6,583 shares in the company, valued at approximately $1,036,164.20. The disclosure for this sale can be found here. In the last three months, insiders sold 40,309 shares of company stock valued at $5,981,836. Insiders own 4.57% of the company’s stock.

Wall Street Analyst Weigh In

PSX has been the subject of several research reports. TD Cowen upped their target price on Phillips 66 from $134.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, December 4th. The Goldman Sachs Group increased their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Raymond James increased their price objective on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Wells Fargo & Company raised their target price on Phillips 66 from $163.00 to $179.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Finally, Barclays lifted their price objective on Phillips 66 from $132.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Monday, February 5th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $148.69.

Phillips 66 Stock Up 2.4 %

NYSE PSX traded up $3.88 during trading on Thursday, reaching $162.84. 1,543,023 shares of the company’s stock were exchanged, compared to its average volume of 3,156,324. 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. 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 company has a 50 day moving average price of $145.66 and a two-hundred day moving average price of $130.14. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $162.86.

Phillips 66 (NYSE:PSX) last announced its quarterly 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. The company had revenue of $38.74 billion during the quarter, compared to the consensus estimate of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. On average, equities research analysts anticipate 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. Stockholders of record on Tuesday, February 20th were issued a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Friday, February 16th. Phillips 66’s 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.