Cobblestone Capital Advisors LLC NY Has $2.47 Million Position in Phillips 66 (NYSE:PSX)

Cobblestone Capital Advisors LLC NY reduced its holdings in Phillips 66 (NYSE:PSX) by 8.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,459 shares of the oil and gas company’s stock after selling 1,631 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Phillips 66 were worth $2,465,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Madison Park Capital Advisors LLC lifted its holdings in Phillips 66 by 3.0% in the first quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock valued at $383,000 after buying an additional 68 shares during the period. Premier Path Wealth Partners LLC increased its stake in Phillips 66 by 1.6% in the first quarter. Premier Path Wealth Partners LLC now owns 4,464 shares of the oil and gas company’s stock valued at $729,000 after purchasing an additional 71 shares in the last quarter. Warwick Investment Management Inc. increased its stake in Phillips 66 by 3.1% in the fourth quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock valued at $319,000 after purchasing an additional 73 shares in the last quarter. MV Capital Management Inc. increased its stake in 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 in the last quarter. Finally, HCR Wealth Advisors increased its stake in Phillips 66 by 2.9% in the fourth quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock valued at $351,000 after purchasing an additional 74 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the sale, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Stock Performance

Shares of NYSE PSX traded down $0.75 during mid-day trading on Friday, reaching $128.14. 4,244,613 shares of the company were exchanged, compared to its average volume of 2,641,602. The company’s 50-day simple moving average is $137.16 and its 200-day simple moving average is $144.82. 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 market capitalization of $54.33 billion, a P/E ratio of 9.86, a P/E/G ratio of 2.53 and a beta of 1.33. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the company posted $3.87 EPS. As a group, research analysts predict that Phillips 66 will post 9.25 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s dividend payout ratio is presently 35.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PSX shares. Argus reaffirmed a “buy” rating and issued a $167.00 target price on shares of Phillips 66 in a research note on Thursday, May 30th. Raymond James increased their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Piper Sandler lowered their price objective on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. JPMorgan Chase & Co. lowered their price objective on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Finally, Barclays increased their price objective on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $157.85.

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.