HM Payson & Co. Buys 224 Shares of Phillips 66 (NYSE:PSX)

HM Payson & Co. increased its stake in Phillips 66 (NYSE:PSX) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,554 shares of the oil and gas company’s stock after acquiring an additional 224 shares during the quarter. HM Payson & Co.’s holdings in Phillips 66 were worth $4,936,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Crewe Advisors LLC bought a new stake in shares of Phillips 66 in the 1st quarter valued at $25,000. Keener Financial Planning LLC acquired a new stake in Phillips 66 in the 1st quarter valued at $26,000. Ruedi Wealth Management Inc. grew its position in Phillips 66 by 102.1% in the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 96 shares during the period. nVerses Capital LLC acquired a new stake in Phillips 66 in the 3rd quarter valued at $26,000. Finally, Bank & Trust Co acquired a new stake in Phillips 66 in the 2nd quarter valued at $31,000. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on PSX. Raymond James lifted their price target 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. Barclays cut their price objective on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 8th. TD Cowen cut their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. JPMorgan Chase & Co. cut 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. Finally, Scotiabank cut their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.00.

Phillips 66 Stock Performance

Phillips 66 stock traded up $0.99 during midday trading on Thursday, reaching $123.06. The stock had a trading volume of 89,977 shares, compared to its average volume of 2,666,140. Phillips 66 has a 12 month low of $110.54 and a 12 month high of $174.08. The firm’s 50-day moving average price is $131.80 and its 200 day moving average price is $138.20. The firm has a market capitalization of $51.51 billion, a PE ratio of 15.67, a P/E/G ratio of 5.47 and a beta of 1.33. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same period in the previous year, the business posted $4.63 EPS. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, research analysts predict that Phillips 66 will post 7.81 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.74%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is presently 59.05%.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.22% of the company’s stock.

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.