Valley Brook Capital Group Inc. Lowers Stock Holdings in Phillips 66 $PSX

Valley Brook Capital Group Inc. reduced its position in Phillips 66 (NYSE:PSX) by 3.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,750 shares of the oil and gas company’s stock after selling 199 shares during the period. Valley Brook Capital Group Inc.’s holdings in Phillips 66 were worth $686,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSX. Brighton Jones LLC grew its stake in Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after acquiring an additional 7,214 shares during the period. GAMMA Investing LLC grew its stake in shares of Phillips 66 by 15.2% during the 1st quarter. GAMMA Investing LLC now owns 9,634 shares of the oil and gas company’s stock valued at $1,190,000 after buying an additional 1,268 shares during the period. CX Institutional grew its stake in shares of Phillips 66 by 14.8% during the 1st quarter. CX Institutional now owns 3,642 shares of the oil and gas company’s stock valued at $450,000 after buying an additional 469 shares during the period. Simon Quick Advisors LLC grew its stake in shares of Phillips 66 by 31.0% during the 1st quarter. Simon Quick Advisors LLC now owns 2,309 shares of the oil and gas company’s stock valued at $285,000 after buying an additional 547 shares during the period. Finally, Fifth Third Bancorp grew its stake in shares of Phillips 66 by 1.3% during the 1st quarter. Fifth Third Bancorp now owns 25,567 shares of the oil and gas company’s stock valued at $3,157,000 after buying an additional 328 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Gregory Hayes acquired 8,350 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were purchased at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the acquisition, the director directly owned 29,423 shares of the company’s stock, valued at $3,527,817.70. This represents a 39.62% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sigmund L. Cornelius acquired 500 shares of the business’s stock in a transaction on Thursday, July 31st. The stock was purchased at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the acquisition, the director directly owned 21,543 shares in the company, valued at $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. Over the last 90 days, insiders have bought 9,850 shares of company stock worth $1,188,910. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Stock Performance

NYSE:PSX opened at $127.01 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $51.33 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 1.86 and a beta of 1.11. The firm’s fifty day simple moving average is $129.51 and its 200 day simple moving average is $120.59. 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, beating the consensus estimate of $1.79 by $0.59. The business had revenue of $33.77 billion for the quarter, compared to analyst estimates 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 in the previous year, the business posted $2.31 EPS. As a group, equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 3.8%. Phillips 66’s payout ratio is currently 115.38%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PSX. Piper Sandler boosted their price objective on shares of Phillips 66 from $154.00 to $155.00 and gave the company a “neutral” rating in a research note on Monday, September 29th. Mizuho boosted their price objective on shares of Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Monday, September 15th. Barclays boosted their price objective on shares of Phillips 66 from $127.00 to $132.00 and gave the company an “equal weight” rating in a research note on Tuesday. Wall Street Zen raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Morgan Stanley lifted their target price on shares of Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.75.

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.