Graypoint LLC Lowers Position in Phillips 66 (NYSE:PSX)

Graypoint LLC trimmed its position in shares of Phillips 66 (NYSE:PSX) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,558 shares of the oil and gas company’s stock after selling 165 shares during the quarter. Graypoint LLC’s holdings in Phillips 66 were worth $599,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new position in Phillips 66 during the 1st quarter worth approximately $25,000. Strategic Financial Concepts LLC purchased a new stake in shares of Phillips 66 in the second quarter valued at approximately $26,000. nVerses Capital LLC acquired a new position in Phillips 66 during the third quarter worth $26,000. Values First Advisors Inc. purchased a new position in Phillips 66 in the third quarter worth $30,000. Finally, Bank & Trust Co acquired a new stake in Phillips 66 in the second quarter valued at $31,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.22% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Morgan Stanley cut their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. TD Cowen reduced their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Wolfe Research started coverage on Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Piper Sandler set a $144.00 price objective on Phillips 66 in a research note on Thursday, October 17th. Finally, Scotiabank decreased their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $150.38.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $126.47 on Friday. The company has a 50-day simple moving average of $130.12 and a 200-day simple moving average of $136.72. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company has a market cap of $52.23 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 4.17 and a beta of 1.33. Phillips 66 has a 12 month low of $110.54 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same period in the previous year, the company earned $4.63 EPS. Phillips 66’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, equities analysts anticipate that Phillips 66 will post 7.68 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.64%. Phillips 66’s payout ratio is currently 59.05%.

About Phillips 66

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.