Stablepoint Partners LLC Purchases 470 Shares of Phillips 66 (NYSE:PSX)

Stablepoint Partners LLC lifted its position in shares of Phillips 66 (NYSE:PSX) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,019 shares of the oil and gas company’s stock after buying an additional 470 shares during the quarter. Phillips 66 makes up 1.0% of Stablepoint Partners LLC’s holdings, making the stock its 28th largest holding. Stablepoint Partners LLC’s holdings in Phillips 66 were worth $5,655,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Manning & Napier Advisors LLC purchased a new position in Phillips 66 during the 2nd quarter valued at about $17,670,000. M&G Plc purchased a new position in Phillips 66 during the second quarter valued at approximately $3,596,000. Duality Advisers LP purchased a new position in Phillips 66 during the first quarter valued at approximately $3,596,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Phillips 66 by 42.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock worth $21,844,000 after buying an additional 39,775 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in Phillips 66 by 69.8% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 37,802 shares of the oil and gas company’s stock valued at $6,175,000 after acquiring an additional 15,542 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX traded down $0.69 during mid-day trading on Monday, hitting $135.66. The company’s stock had a trading volume of 58,003 shares, compared to its average volume of 2,695,421. The business’s fifty day moving average is $133.24 and its two-hundred day moving average is $141.38. The stock has a market cap of $57.51 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 5.48 and a beta of 1.33. 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 has a 1 year low of $107.85 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS 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 for the quarter, compared to the consensus estimate of $37.79 billion. During the same quarter in the prior year, the business earned $3.87 earnings per share. The company’s revenue was up 8.9% compared to the same quarter last year. Analysts anticipate that Phillips 66 will post 8.19 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.39%. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Analyst Ratings Changes

PSX has been the topic of a number of recent research reports. Scotiabank dropped their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday. Piper Sandler raised their price target on shares of Phillips 66 from $136.00 to $144.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Wolfe Research started coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. lowered their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company reduced their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $151.21.

Insider Activity at Phillips 66

In other Phillips 66 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 value of $4,170,300.00. Following the completion of the transaction, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.22% of the stock is owned by company 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.