Graypoint LLC Has $667,000 Stock Holdings in Phillips 66 (NYSE:PSX)

Graypoint LLC lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 39.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,723 shares of the oil and gas company’s stock after buying an additional 1,326 shares during the period. Graypoint LLC’s holdings in Phillips 66 were worth $667,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Crewe Advisors LLC bought a new position in shares of Phillips 66 in the first quarter worth about $25,000. Keener Financial Planning LLC acquired a new position in Phillips 66 during the 1st quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. bought a new position in Phillips 66 in the 4th quarter valued at approximately $27,000. Redmont Wealth Advisors LLC acquired a new stake in Phillips 66 in the first quarter valued at approximately $28,000. Finally, First United Bank & Trust bought a new stake in shares of Phillips 66 during the fourth quarter worth $31,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Trading Up 2.8 %

Shares of PSX traded up $3.81 during trading hours on Friday, hitting $140.31. 3,981,538 shares of the stock were exchanged, compared to its average volume of 2,200,111. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08. The business has a 50-day moving average of $137.85 and a 200-day moving average of $145.24. The firm has a market capitalization of $58.73 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 2.53 and a beta of 1.34. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. During the same period last year, the business posted $3.87 EPS. The business’s revenue was up 8.9% compared to the same quarter last year. On average, research analysts expect that Phillips 66 will post 9.25 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.28%. Phillips 66’s payout ratio is currently 35.38%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Scotiabank dropped their price target on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Wells Fargo & Company dropped their target price on Phillips 66 from $180.00 to $176.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Wolfe Research initiated coverage on Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. TD Cowen raised their price objective on shares of Phillips 66 from $155.00 to $162.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, StockNews.com lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $157.38.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.22% of the company’s stock.

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.