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

Graypoint LLC boosted its stake in shares of Phillips 66 (NYSE:PSX) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. First Capital Advisors Group LLC. bought a new position in shares of Phillips 66 in the 2nd quarter valued at about $25,000. Cornerstone Planning Group LLC boosted its stake in shares of 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 valued at $32,000 after purchasing an additional 151 shares during the last quarter. Worth Asset Management LLC bought a new position in shares of Phillips 66 in the 1st quarter valued at about $32,000. Bruce G. Allen Investments LLC bought a new position in shares of Phillips 66 in the 4th quarter valued at about $36,000. Finally, Bell Investment Advisors Inc raised its position in shares of 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 valued at $37,000 after acquiring an additional 138 shares during the period. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PSX. Barclays raised their target price on shares of Phillips 66 from $132.00 to $139.00 and gave the stock an “equal weight” rating in a report on Monday, February 5th. Piper Sandler raised their target price on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. StockNews.com upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Saturday, February 10th. Bank of America raised their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Finally, Wells Fargo & Company raised their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $156.86.

Insiders Place Their Bets

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert W. Pease bought 682 shares of Phillips 66 stock in a transaction dated Thursday, February 15th. The stock was acquired at an average cost of $146.58 per share, with a total value 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 disclosure for this purchase can be found here. Insiders sold a total of 35,056 shares of company stock valued at $5,272,681 over the last ninety days. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Price Performance

NYSE:PSX opened at $162.49 on Monday. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. The firm has a fifty day simple moving average of $153.37 and a 200 day simple moving average of $134.25. The stock has a market capitalization of $69.52 billion, a PE ratio of 10.50, a P/E/G ratio of 2.05 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The business had revenue of $38.74 billion during the quarter, compared to analysts’ expectations of $34.30 billion. On average, research analysts expect that Phillips 66 will post 13.2 EPS for the current fiscal year.

Phillips 66 Increases Dividend

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

Phillips 66 Company 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.