Garrison Asset Management LLC Trims Stock Position in Phillips 66 (NYSE:PSX)

Garrison Asset Management LLC lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,969 shares of the oil and gas company’s stock after selling 524 shares during the quarter. Phillips 66 comprises 1.6% of Garrison Asset Management LLC’s portfolio, making the stock its 27th biggest holding. Garrison Asset Management LLC’s holdings in Phillips 66 were worth $3,151,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Crewe Advisors LLC purchased a new stake in shares of Phillips 66 in the first quarter valued at approximately $25,000. Keener Financial Planning LLC purchased a new stake in Phillips 66 during the 1st quarter valued at about $26,000. Strategic Financial Concepts LLC acquired a new position in shares of Phillips 66 in the 2nd quarter valued at about $26,000. nVerses Capital LLC acquired a new stake in Phillips 66 during the third quarter worth about $26,000. Finally, Values First Advisors Inc. purchased a new position in shares of Phillips 66 during the 3rd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of Phillips 66 stock traded up $2.26 on Monday, reaching $122.27. The stock had a trading volume of 130,434 shares, compared to its average volume of 2,663,526. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.79 and a current ratio of 1.21. Phillips 66 has a fifty-two week low of $110.54 and a fifty-two week high of $174.08. The business’s 50-day moving average price is $131.27 and its two-hundred day moving average price is $137.53. The stock has a market cap of $50.50 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 3.92 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same period in the previous year, the business earned $4.63 earnings per share. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, sell-side analysts forecast that Phillips 66 will post 7.77 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 59.05%.

Insider Activity

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 shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PSX. Mizuho lowered their price target on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Raymond James lifted their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Wolfe Research assumed coverage on Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Wells Fargo & Company lowered their price objective on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $151.42.

Phillips 66 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.