Keystone Wealth Services LLC Decreases Holdings in Phillips 66 (NYSE:PSX)

Keystone Wealth Services LLC trimmed its position in shares of Phillips 66 (NYSE:PSX) by 2.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,283 shares of the oil and gas company’s stock after selling 374 shares during the period. Keystone Wealth Services LLC’s holdings in Phillips 66 were worth $2,272,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PSX. Syon Capital LLC raised its holdings in shares of Phillips 66 by 7.9% during the 4th quarter. Syon Capital LLC now owns 3,401 shares of the oil and gas company’s stock valued at $453,000 after buying an additional 248 shares in the last quarter. Scarborough Advisors LLC purchased a new position in Phillips 66 in the 4th quarter worth approximately $174,000. SageView Advisory Group LLC purchased a new position in Phillips 66 in the 4th quarter worth approximately $396,000. ICA Group Wealth Management LLC purchased a new position in Phillips 66 in the 4th quarter worth approximately $200,000. Finally, Leo Wealth LLC purchased a new position in Phillips 66 in the 4th quarter worth approximately $233,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 value of $4,170,300.00. Following the completion of the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

PSX has been the topic of several research analyst reports. Wolfe Research initiated coverage on Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Scotiabank reduced their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. TD Cowen reduced their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Piper Sandler boosted their target price on Phillips 66 from $136.00 to $144.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Barclays reduced their target price on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 8th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $151.21.

Phillips 66 Stock Performance

Phillips 66 stock traded down $4.02 during mid-day trading on Tuesday, reaching $131.40. 2,338,063 shares of the stock traded hands, compared to its average volume of 2,700,599. The stock has a market capitalization of $55.71 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 5.48 and a beta of 1.33. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The business’s 50-day moving average is $133.32 and its 200-day moving average is $141.18.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating 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 return on equity of 16.77% and a net margin of 3.32%. Phillips 66’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.87 earnings per share. As a group, sell-side analysts predict that Phillips 66 will post 8.19 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s payout ratio is 35.38%.

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.