Kimelman & Baird LLC Invests $88,000 in Phillips 66 (NYSE:PSX)

Kimelman & Baird LLC acquired a new position in Phillips 66 (NYSE:PSX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 625 shares of the oil and gas company’s stock, valued at approximately $88,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Madison Park Capital Advisors LLC boosted 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 worth $383,000 after acquiring an additional 68 shares in the last quarter. MV Capital Management Inc. grew its position in Phillips 66 by 9.6% during the 1st quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock worth $137,000 after purchasing an additional 73 shares during the last quarter. Mitchell & Pahl Private Wealth LLC increased its stake 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 valued at $2,519,000 after purchasing an additional 74 shares in the last quarter. Catalyst Financial Partners LLC raised its holdings in shares of Phillips 66 by 5.1% in the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock worth $214,000 after buying an additional 74 shares during the last quarter. Finally, Claro Advisors LLC lifted its stake in shares of Phillips 66 by 4.5% during the first quarter. Claro Advisors LLC now owns 1,738 shares of the oil and gas company’s stock worth $284,000 after buying an additional 75 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PSX has been the topic of several research reports. JPMorgan Chase & Co. cut their target price on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Wolfe Research initiated coverage on Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating for the company. TD Cowen cut their price target 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. Mizuho reduced their price target on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Finally, Wells Fargo & Company upped their price objective on shares of Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $154.21.

Phillips 66 Trading Up 0.3 %

Shares of Phillips 66 stock opened at $131.45 on Tuesday. The firm has a 50-day simple moving average of $134.13 and a two-hundred day simple moving average of $142.78. 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 fifty-two week low of $107.85 and a fifty-two week high of $174.08. The company has a market cap of $55.73 billion, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 5.22 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share 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 company had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. During the same quarter in the prior year, the firm posted $3.87 EPS. Phillips 66’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, equities analysts predict that Phillips 66 will post 8.27 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a dividend of $1.15 per share. 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 3.50%. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Insider Activity at Phillips 66

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 completion of the transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.22% of the stock is owned by corporate insiders.

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.