Gryphon Financial Partners LLC increased its holdings in shares of Phillips 66 (NYSE:PSX) by 203.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,787 shares of the oil and gas company’s stock after purchasing an additional 1,199 shares during the period. Gryphon Financial Partners LLC’s holdings in Phillips 66 were worth $201,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. BlackRock Inc. raised its position in Phillips 66 by 8.1% during the 2nd quarter. BlackRock Inc. now owns 29,146,903 shares of the oil and gas company’s stock worth $3,273,487,000 after buying an additional 2,194,280 shares during the last quarter. FMR LLC raised its position in Phillips 66 by 9.0% during the 2nd quarter. FMR LLC now owns 14,400,087 shares of the oil and gas company’s stock worth $1,617,273,000 after buying an additional 1,188,567 shares during the last quarter. Cornerstone Wealth Management LLC raised its position in Phillips 66 by 11,191.1% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 887,030 shares of the oil and gas company’s stock worth $8,019,000 after buying an additional 879,174 shares during the last quarter. American Century Companies Inc. purchased a new position in Phillips 66 during the 2nd quarter worth $89,215,000. Finally, MERIAN GLOBAL INVESTORS UK Ltd raised its position in Phillips 66 by 2,132.6% during the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 690,015 shares of the oil and gas company’s stock worth $77,778,000 after buying an additional 659,108 shares during the last quarter. Hedge funds and other institutional investors own 70.10% of the company’s stock.

Shares of PSX opened at $99.74 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.28 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $47.55 billion, a PE ratio of 22.77, a P/E/G ratio of 1.41 and a beta of 0.99. Phillips 66 has a 52-week low of $89.14 and a 52-week high of $123.97.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, October 26th. The oil and gas company reported $3.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.50 by $0.60. The business had revenue of $30.59 billion during the quarter, compared to the consensus estimate of $28.50 billion. Phillips 66 had a net margin of 5.72% and a return on equity of 14.97%. During the same quarter last year, the firm posted $1.66 EPS. On average, equities research analysts forecast that Phillips 66 will post 8.61 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 19th will be issued a $0.80 dividend. The ex-dividend date is Friday, November 16th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.21%. Phillips 66’s dividend payout ratio is presently 73.06%.

A number of equities analysts have commented on PSX shares. Morgan Stanley upped their price objective on shares of Phillips 66 from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, July 16th. Zacks Investment Research upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $137.00 price objective for the company in a research report on Wednesday, August 1st. Mizuho started coverage on shares of Phillips 66 in a research report on Wednesday, August 1st. They set a “neutral” rating and a $124.00 price objective for the company. Citigroup upped their price objective on shares of Phillips 66 from $124.00 to $126.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 15th. Finally, ValuEngine downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. Twelve investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $121.79.

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About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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