Phillips 66 (NYSE:PSX) Stake Boosted by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC increased its position in shares of Phillips 66 (NYSE:PSX) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,295 shares of the oil and gas company’s stock after acquiring an additional 877 shares during the period. Daymark Wealth Partners LLC’s holdings in Phillips 66 were worth $9,898,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Crewe Advisors LLC acquired a new position in shares of Phillips 66 during the 1st quarter worth $25,000. Keener Financial Planning LLC bought a new stake in Phillips 66 in the first quarter worth $26,000. Strategic Financial Concepts LLC acquired a new position in Phillips 66 during the second quarter worth $26,000. Ables Iannone Moore & Associates Inc. bought a new position in Phillips 66 during the fourth quarter valued at about $27,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Phillips 66 in the first quarter worth about $28,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

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.

Analyst Ratings Changes

A number of brokerages have recently commented on PSX. JPMorgan Chase & Co. lowered their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Scotiabank decreased their target price on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Barclays dropped their price target on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Piper Sandler upped their price objective on shares of Phillips 66 from $136.00 to $144.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, TD Cowen dropped their target price 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. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $151.86.

Phillips 66 Price Performance

PSX stock traded up $1.76 during trading on Wednesday, hitting $134.09. 355,103 shares of the stock traded hands, compared to its average volume of 2,715,993. The stock has a market cap of $56.85 billion, a price-to-earnings ratio of 10.27, a P/E/G ratio of 5.46 and a beta of 1.33. Phillips 66 has a one year low of $107.85 and a one year high of $174.08. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The company has a 50 day simple moving average of $133.50 and a 200 day simple moving average of $141.83.

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, topping 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 business had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. During the same period in the prior year, the company earned $3.87 EPS. Phillips 66’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities analysts expect that Phillips 66 will post 8.21 EPS for the current fiscal year.

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.