Daymark Wealth Partners LLC Increases Stock Position in Phillips 66 (NYSE:PSX)

Daymark Wealth Partners LLC grew its holdings in shares of Phillips 66 (NYSE:PSX) by 10.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,830 shares of the oil and gas company’s stock after buying an additional 7,535 shares during the period. Daymark Wealth Partners LLC’s holdings in Phillips 66 were worth $9,437,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PSX. nVerses Capital LLC purchased a new stake in shares of Phillips 66 in the third quarter worth $26,000. Values First Advisors Inc. purchased a new stake in Phillips 66 during the 3rd quarter valued at about $30,000. Point72 Hong Kong Ltd purchased a new stake in Phillips 66 during the 3rd quarter valued at about $40,000. Strategic Investment Solutions Inc. IL bought a new stake in Phillips 66 during the 2nd quarter valued at about $51,000. Finally, Hoese & Co LLP lifted its stake in shares of Phillips 66 by 33.1% in the third quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock worth $53,000 after buying an additional 100 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Trading Down 0.1 %

NYSE:PSX opened at $120.38 on Wednesday. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The business has a fifty day moving average price of $122.18 and a 200-day moving average price of $129.32. The firm has a market capitalization of $49.72 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 3.84 and a beta of 1.38. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $4.63 earnings per share. Sell-side analysts forecast that Phillips 66 will post 6.41 EPS for the current year.

Wall Street Analyst Weigh In

PSX has been the subject of a number of recent analyst reports. Mizuho decreased their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Wells Fargo & Company lowered their price target on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a report on Monday, December 9th. Bank of America began coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Scotiabank lowered their target price on shares of 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. Finally, Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $147.93.

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.