Cobblestone Capital Advisors LLC NY Purchases 89 Shares of Phillips 66 (NYSE:PSX)

Cobblestone Capital Advisors LLC NY increased its holdings in Phillips 66 (NYSE:PSX) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,548 shares of the oil and gas company’s stock after purchasing an additional 89 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Phillips 66 were worth $2,307,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PSX. Transcend Capital Advisors LLC grew its holdings in Phillips 66 by 16.2% in the second quarter. Transcend Capital Advisors LLC now owns 5,396 shares of the oil and gas company’s stock worth $762,000 after purchasing an additional 752 shares during the period. GAMMA Investing LLC boosted its stake in Phillips 66 by 28.9% in the second quarter. GAMMA Investing LLC now owns 6,864 shares of the oil and gas company’s stock valued at $969,000 after acquiring an additional 1,541 shares during the last quarter. DNB Asset Management AS bought a new position in Phillips 66 during the second quarter valued at $249,000. Bank & Trust Co purchased a new stake in Phillips 66 in the 2nd quarter worth about $31,000. Finally, Douglas Lane & Associates LLC raised its position in shares of Phillips 66 by 6.6% in the second quarter. Douglas Lane & Associates LLC now owns 2,091 shares of the oil and gas company’s stock valued at $295,000 after purchasing an additional 130 shares during the period. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the topic of several recent analyst reports. Mizuho lowered their target price 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. lowered their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. UBS Group reduced their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a research report on Thursday, October 17th. Finally, Scotiabank dropped their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Stock Up 0.5 %

Shares of NYSE:PSX opened at $133.98 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 52-week low of $119.77 and a 52-week high of $174.08. The business has a fifty day moving average of $130.68 and a two-hundred day moving average of $134.92. The stock has a market cap of $55.33 billion, a P/E ratio of 17.20, a PEG ratio of 4.37 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last posted its 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. 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 during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter last year, the firm earned $4.63 EPS. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, research analysts expect that Phillips 66 will post 7.66 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.43%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

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.