Phillips 66 (NYSE:PSX) Stock Position Decreased by Westhampton Capital LLC

Westhampton Capital LLC cut its stake in shares of Phillips 66 (NYSE:PSX) by 7.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,140 shares of the oil and gas company’s stock after selling 468 shares during the period. Westhampton Capital LLC’s holdings in Phillips 66 were worth $807,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PSX. Ballentine Partners LLC boosted its holdings in shares of Phillips 66 by 3.9% in the first quarter. Ballentine Partners LLC now owns 2,913 shares of the oil and gas company’s stock worth $476,000 after buying an additional 110 shares during the period. Global Assets Advisory LLC acquired a new position in Phillips 66 in the 1st quarter worth approximately $4,696,000. Gateway Investment Advisers LLC grew its position in Phillips 66 by 19.8% during the 1st quarter. Gateway Investment Advisers LLC now owns 11,705 shares of the oil and gas company’s stock worth $1,912,000 after purchasing an additional 1,934 shares in the last quarter. Kingswood Wealth Advisors LLC raised its stake in Phillips 66 by 3.2% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 7,056 shares of the oil and gas company’s stock valued at $1,153,000 after purchasing an additional 217 shares during the period. Finally, Sunbelt Securities Inc. lifted its holdings in shares of Phillips 66 by 87.4% in the first quarter. Sunbelt Securities Inc. now owns 2,983 shares of the oil and gas company’s stock valued at $487,000 after purchasing an additional 1,391 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PSX. Piper Sandler set a $144.00 price target on Phillips 66 in a report on Thursday, October 17th. Mizuho dropped their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Scotiabank decreased 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 report on Thursday, October 10th. Raymond James boosted their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company decreased their target price on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $149.50.

Phillips 66 Stock Up 0.1 %

Shares of Phillips 66 stock opened at $131.43 on Wednesday. Phillips 66 has a 12-month low of $107.85 and a 12-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 stock has a 50 day moving average price of $133.02 and a two-hundred day moving average price of $139.65. The stock has a market capitalization of $55.01 billion, a P/E ratio of 11.27, a PEG ratio of 5.68 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.33. The business had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. Phillips 66’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.87 EPS. Equities analysts expect that Phillips 66 will post 7.81 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.50%. Phillips 66’s dividend payout ratio is presently 39.45%.

Insider Activity at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was 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 in the company, valued at $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. 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 corporate insiders.

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.