Gryphon Financial Partners LLC Sells 124 Shares of Phillips 66 (NYSE:PSX)

Gryphon Financial Partners LLC cut its holdings in Phillips 66 (NYSE:PSX) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,886 shares of the oil and gas company’s stock after selling 124 shares during the period. Gryphon Financial Partners LLC’s holdings in Phillips 66 were worth $443,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Garrett Wealth Advisory Group LLC raised its position in Phillips 66 by 2.4% in the fourth quarter. Garrett Wealth Advisory Group LLC now owns 6,415 shares of the oil and gas company’s stock worth $731,000 after acquiring an additional 150 shares during the period. Fidelis Capital Partners LLC raised its position in Phillips 66 by 5.9% in the fourth quarter. Fidelis Capital Partners LLC now owns 3,067 shares of the oil and gas company’s stock worth $361,000 after acquiring an additional 172 shares during the period. SBI Securities Co. Ltd. bought a new position in Phillips 66 in the fourth quarter worth approximately $49,000. Jones Financial Companies Lllp raised its position in Phillips 66 by 40.9% in the fourth quarter. Jones Financial Companies Lllp now owns 34,303 shares of the oil and gas company’s stock worth $3,908,000 after acquiring an additional 9,959 shares during the period. Finally, SRS Capital Advisors Inc. raised its position in Phillips 66 by 174.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,699 shares of the oil and gas company’s stock worth $194,000 after acquiring an additional 1,079 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PSX. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Barclays reduced their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Mizuho reduced their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. UBS Group reduced their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Price Performance

PSX stock opened at $125.03 on Tuesday. Phillips 66 has a 52 week low of $108.90 and a 52 week high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a fifty day simple moving average of $120.89 and a two-hundred day simple moving average of $126.63. The firm has a market capitalization of $50.97 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 4.84 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the business posted $3.09 EPS. Analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be given a dividend of $1.15 per share. The ex-dividend date is Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.68%. Phillips 66’s dividend payout ratio (DPR) is currently 93.12%.

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.