Chevy Chase Trust Holdings LLC Sells 1,739 Shares of Phillips 66 $PSX

Chevy Chase Trust Holdings LLC lowered its position in Phillips 66 (NYSE:PSX) by 0.8% in the second quarter, HoldingsChannel.com reports. The fund owned 217,917 shares of the oil and gas company’s stock after selling 1,739 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Phillips 66 were worth $25,997,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its position in Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after purchasing an additional 7,214 shares during the last quarter. GAMMA Investing LLC raised its position in Phillips 66 by 15.2% in the 1st quarter. GAMMA Investing LLC now owns 9,634 shares of the oil and gas company’s stock worth $1,190,000 after purchasing an additional 1,268 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Phillips 66 by 20.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company’s stock worth $19,625,000 after purchasing an additional 26,825 shares during the last quarter. Ritholtz Wealth Management bought a new position in Phillips 66 in the 1st quarter worth approximately $290,000. Finally, Kingswood Wealth Advisors LLC raised its position in Phillips 66 by 94.1% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 4,556 shares of the oil and gas company’s stock worth $565,000 after purchasing an additional 2,209 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Activity

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the transaction, the executive vice president owned 34,587 shares of the company’s stock, valued at $4,842,180. The trade was a 11.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory Hayes purchased 8,350 shares of the firm’s stock in a transaction dated Thursday, August 14th. The stock was purchased at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the acquisition, the director directly owned 29,423 shares in the company, valued at $3,527,817.70. This trade represents a 39.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 9,850 shares of company stock worth $1,188,910 over the last quarter. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Scotiabank restated a “sector perform” rating and issued a $133.00 price objective on shares of Phillips 66 in a research report on Friday, July 11th. Zacks Research upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. Wells Fargo & Company assumed coverage on shares of Phillips 66 in a research report on Friday. They issued an “overweight” rating and a $154.00 price objective for the company. Citigroup cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and upped their target price for the company from $126.00 to $130.00 in a research report on Wednesday, July 16th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $150.00 target price (up previously from $145.00) on shares of Phillips 66 in a research report on Friday. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $141.50.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $129.21 on Friday. The firm has a fifty day moving average of $130.43 and a two-hundred day moving average of $120.79. The stock has a market capitalization of $52.22 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 1.79 and a beta of 1.11. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $142.35. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The company had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same quarter in the previous year, the business earned $2.31 EPS. As a group, equities research analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. Phillips 66’s payout ratio is 115.38%.

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.