Graypoint LLC Sells 955 Shares of Phillips 66 (NYSE:PSX)

Graypoint LLC trimmed its stake in Phillips 66 (NYSE:PSX) by 21.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,603 shares of the oil and gas company’s stock after selling 955 shares during the period. Graypoint LLC’s holdings in Phillips 66 were worth $410,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PSX. Van ECK Associates Corp boosted its stake in Phillips 66 by 263.3% during the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after buying an additional 60,355 shares during the period. Everence Capital Management Inc. purchased a new position in shares of Phillips 66 during the 4th quarter worth about $3,033,000. Mizuho Securities USA LLC grew its holdings in Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after purchasing an additional 2,467,316 shares during the last quarter. Nwam LLC purchased a new stake in Phillips 66 in the 3rd quarter worth about $498,000. Finally, Principal Financial Group Inc. lifted its stake in Phillips 66 by 2.8% in the third quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company’s stock worth $69,775,000 after purchasing an additional 14,209 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the topic of several recent analyst reports. Mizuho reduced their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Piper Sandler set a $144.00 target price on Phillips 66 in a research note on Thursday, October 17th. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research note on Friday, January 3rd. Barclays reduced their price target on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Finally, Bank of America began coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and an average target price of $148.57.

Phillips 66 Price Performance

Shares of PSX stock opened at $113.95 on Friday. The stock’s 50-day moving average is $123.10 and its 200 day moving average is $130.43. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company has a market cap of $47.06 billion, a P/E ratio of 14.63, a PEG ratio of 4.06 and a beta of 1.38.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the business earned $4.63 EPS. Research analysts predict that Phillips 66 will post 7.56 earnings per share for the current fiscal year.

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.