Eldred Rock Partners LLC Acquires 3,462 Shares of Phillips 66 (NYSE:PSX)

Eldred Rock Partners LLC raised its holdings in shares of Phillips 66 (NYSE:PSX) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,718 shares of the oil and gas company’s stock after purchasing an additional 3,462 shares during the quarter. Phillips 66 makes up 3.8% of Eldred Rock Partners LLC’s holdings, making the stock its 9th biggest position. Eldred Rock Partners LLC’s holdings in Phillips 66 were worth $11,268,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Madison Park Capital Advisors LLC boosted its holdings in shares of Phillips 66 by 3.0% during the 1st quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock worth $383,000 after buying an additional 68 shares during the period. MV Capital Management Inc. grew its position in shares of Phillips 66 by 9.6% in the first 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 during the last quarter. Mitchell & Pahl Private Wealth LLC increased its position in Phillips 66 by 0.4% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock worth $2,519,000 after buying an additional 74 shares during the period. Catalyst Financial Partners LLC increased its position in Phillips 66 by 5.1% during the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock worth $214,000 after acquiring an additional 74 shares during the period. Finally, Claro Advisors LLC raised its position in shares of Phillips 66 by 4.5% in the first quarter. Claro Advisors LLC now owns 1,738 shares of the oil and gas company’s stock valued at $284,000 after buying an additional 75 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s 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 owns 81,937 shares of the company’s stock, 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 legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PSX shares. Piper Sandler decreased their target price on shares of Phillips 66 from $151.00 to $136.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. Mizuho decreased their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. JPMorgan Chase & Co. cut their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday. Barclays lifted their price target on Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Finally, TD Cowen dropped their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $152.71.

Phillips 66 Trading Down 0.2 %

Shares of NYSE:PSX traded down $0.31 during mid-day trading on Friday, reaching $138.62. 2,468,549 shares of the company’s stock were exchanged, compared to its average volume of 2,733,967. 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 has a twelve month low of $107.85 and a twelve month high of $174.08. The firm has a market capitalization of $58.77 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 5.28 and a beta of 1.33. The business’s fifty day moving average price is $133.83 and its 200-day moving average price is $142.39.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. During the same quarter in the previous year, the company posted $3.87 EPS. The business’s revenue was up 8.9% on a year-over-year basis. On average, research analysts predict that Phillips 66 will post 8.27 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a $1.15 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.32%. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

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.