Graypoint LLC Purchases 141 Shares of Phillips 66 (NYSE:PSX)

Graypoint LLC boosted its stake in Phillips 66 (NYSE:PSX) by 4.9% in the 4th quarter, Holdings Channel reports. The firm owned 3,025 shares of the oil and gas company’s stock after acquiring an additional 141 shares during the quarter. Graypoint LLC’s holdings in Phillips 66 were worth $403,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC boosted its stake in Phillips 66 by 134.8% in the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 151 shares during the period. First Capital Advisors Group LLC. bought a new position in Phillips 66 in the 2nd quarter worth about $25,000. Bruce G. Allen Investments LLC bought a new position in Phillips 66 in the 4th quarter worth about $36,000. West Branch Capital LLC boosted its stake in Phillips 66 by 49.5% in the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 91 shares during the period. Finally, Bell Investment Advisors Inc boosted its stake in Phillips 66 by 82.1% in 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 during the period. Institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Mizuho cut their target price on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday. Piper Sandler raised their price target on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Wells Fargo & Company raised their price target on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Scotiabank raised their price target on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday. Finally, Citigroup initiated coverage on Phillips 66 in a research note on Wednesday, January 24th. They issued a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $156.86.

Phillips 66 Price Performance

Shares of PSX stock opened at $162.49 on Monday. The firm has a market cap of $69.52 billion, a P/E ratio of 10.50, a P/E/G ratio of 2.05 and a beta of 1.37. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $174.08. The business’s 50 day moving average price is $153.37 and its 200-day moving average price is $134.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26.

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, beating 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 for the quarter, compared to the consensus estimate of $34.30 billion. On average, equities research analysts anticipate that Phillips 66 will post 13.2 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.83%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. Phillips 66’s payout ratio is 27.15%.

Insider Buying and Selling at Phillips 66

In other news, Director Robert W. Pease purchased 682 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were acquired at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the purchase, the director now owns 1,900 shares in the company, valued at $278,502. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Robert W. Pease purchased 682 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were acquired at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the purchase, the director now owns 1,900 shares in the company, valued at $278,502. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the sale, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is currently owned by insiders.

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.