ST Germain D J Co. Inc. Reduces Stock Position in Phillips 66 (NYSE:PSX)

ST Germain D J Co. Inc. cut its holdings in Phillips 66 (NYSE:PSX) by 26.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,355 shares of the oil and gas company’s stock after selling 490 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Phillips 66 were worth $178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PSX. Crewe Advisors LLC bought a new stake in shares of Phillips 66 in the 1st quarter worth approximately $25,000. Keener Financial Planning LLC purchased a new position in Phillips 66 during the 1st quarter valued at $26,000. Redmont Wealth Advisors LLC purchased a new position in Phillips 66 during the 1st quarter valued at $28,000. Ruedi Wealth Management Inc. raised its holdings in Phillips 66 by 102.1% in the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 96 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of Phillips 66 in the 3rd quarter worth about $26,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PSX shares. Raymond James increased their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Wolfe Research assumed coverage on Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Scotiabank reduced their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Mizuho lowered their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Finally, Morgan Stanley reduced their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $149.50.

Phillips 66 Price Performance

Shares of PSX opened at $132.60 on Friday. The company has a market capitalization of $56.22 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 5.75 and a beta of 1.33. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average of $133.18 and a 200 day moving average of $140.43.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.33. The firm had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.87 earnings per share. As a group, equities research analysts anticipate that Phillips 66 will post 7.85 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.47%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 35.38%.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’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 transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.