Cobblestone Capital Advisors LLC NY Acquires 86 Shares of Phillips 66 $PSX

Cobblestone Capital Advisors LLC NY raised its holdings in Phillips 66 (NYSE:PSX) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,851 shares of the oil and gas company’s stock after buying an additional 86 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Phillips 66 were worth $2,010,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Elliott Investment Management L.P. raised its holdings in shares of Phillips 66 by 1,929.0% in the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after purchasing an additional 14,950,000 shares during the last quarter. Chronos Wealth Management LLC purchased a new stake in shares of Phillips 66 in the second quarter valued at about $281,000. Alta Advisers Ltd purchased a new stake in shares of Phillips 66 in the first quarter valued at about $253,000. Sustainable Insight Capital Management LLC purchased a new stake in shares of Phillips 66 in the first quarter valued at about $1,457,000. Finally, Evergreen Wealth Solutions LLC purchased a new stake in shares of Phillips 66 in the first quarter valued at about $292,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Price Performance

PSX opened at $135.07 on Monday. The company has a market capitalization of $54.58 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 1.77 and a beta of 1.11. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $131.51 and a 200-day moving average price of $122.13. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $142.35.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.59. The firm had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same quarter last year, the company earned $2.31 earnings per share. Equities analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.6%. Phillips 66’s dividend payout ratio (DPR) is presently 115.38%.

Insider Buying and Selling at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the transaction, the executive vice president owned 34,587 shares in the company, valued at $4,842,180. This trade represents a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sigmund L. Cornelius bought 500 shares of Phillips 66 stock in a transaction dated Thursday, July 31st. The stock was acquired at an average price of $123.55 per share, with a total value of $61,775.00. Following the purchase, the director directly owned 21,543 shares of the company’s stock, valued at approximately $2,661,637.65. This represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 9,850 shares of company stock worth $1,188,910 over the last three months. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PSX. Evercore ISI increased their target price on shares of Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, September 19th. TD Cowen raised their price objective on shares of Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Scotiabank restated a “sector perform” rating and set a $133.00 price objective on shares of Phillips 66 in a report on Friday, July 11th. UBS Group raised their price objective on shares of Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Finally, Zacks Research upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Friday, September 26th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.50.

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.