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

Graypoint LLC decreased its holdings in Phillips 66 (NYSE:PSX) by 21.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. nVerses Capital LLC bought a new position in Phillips 66 during the 3rd quarter valued at about $26,000. Values First Advisors Inc. bought a new position in Phillips 66 during the third quarter valued at approximately $30,000. Point72 Hong Kong Ltd purchased a new stake in Phillips 66 in the third quarter worth approximately $40,000. Strategic Investment Solutions Inc. IL bought a new stake in Phillips 66 in the 2nd quarter worth approximately $51,000. Finally, Hoese & Co LLP raised its stake in Phillips 66 by 33.1% during the 3rd quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock valued at $53,000 after buying an additional 100 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PSX. Piper Sandler set a $144.00 price objective on Phillips 66 in a report on Thursday, October 17th. Scotiabank reduced their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. UBS Group cut their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Barclays dropped 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. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $148.57.

Phillips 66 Stock Down 2.0 %

Shares of PSX opened at $113.95 on Friday. The company has a market capitalization of $47.06 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 4.06 and a beta of 1.38. The business’s 50 day moving average is $123.10 and its 200 day moving average is $130.43. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08.

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 the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $4.63 EPS. Research analysts expect that Phillips 66 will post 7.56 earnings per share for the current fiscal year.

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.