Eagle Bay Advisors LLC Boosts Stake in Phillips 66 (NYSE:PSX)

Eagle Bay Advisors LLC raised its position in Phillips 66 (NYSE:PSX) by 40.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 691 shares of the oil and gas company’s stock after purchasing an additional 200 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Phillips 66 were worth $98,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Madison Park Capital Advisors LLC raised its holdings in Phillips 66 by 3.0% in the first quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock valued at $383,000 after buying an additional 68 shares during the period. Premier Path Wealth Partners LLC lifted its holdings in shares of Phillips 66 by 1.6% during the 1st quarter. Premier Path Wealth Partners LLC now owns 4,464 shares of the oil and gas company’s stock valued at $729,000 after acquiring an additional 71 shares in the last quarter. Warwick Investment Management Inc. boosted its position in Phillips 66 by 3.1% during the 4th quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock worth $319,000 after purchasing an additional 73 shares during the period. MV Capital Management Inc. increased its holdings in Phillips 66 by 9.6% in the 1st quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock valued at $137,000 after purchasing an additional 73 shares in the last quarter. Finally, HCR Wealth Advisors raised its position in Phillips 66 by 2.9% in the fourth quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock valued at $351,000 after purchasing an additional 74 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Up 0.1 %

Shares of PSX stock traded up $0.12 during trading hours on Wednesday, hitting $134.50. 673,339 shares of the company were exchanged, compared to its average volume of 2,617,495. The stock has a market capitalization of $57.02 billion, a price-to-earnings ratio of 10.34, a P/E/G ratio of 2.43 and a beta of 1.34. Phillips 66 has a one year low of $107.85 and a one year high of $174.08. The business’s 50-day simple moving average is $137.88 and its two-hundred day simple moving average is $145.48. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.33. The firm had revenue of $38.91 billion for 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%. Phillips 66’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.87 earnings per share. Sell-side analysts predict that Phillips 66 will post 9.53 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed 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. This represents a $4.60 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Tuesday, August 20th. Phillips 66’s dividend payout ratio is presently 35.38%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on PSX. Argus reaffirmed a “buy” rating and issued a $167.00 target price on shares of Phillips 66 in a research report on Thursday, May 30th. TD Cowen increased their price objective on shares of Phillips 66 from $155.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Piper Sandler reduced their target price on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research report on Friday, June 14th. Scotiabank decreased their target price on shares of 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. Finally, JPMorgan Chase & Co. dropped their price target on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $157.38.

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.