Waldron Private Wealth LLC Purchases 122 Shares of Phillips 66 (NYSE:PSX)

Waldron Private Wealth LLC grew its position in shares of Phillips 66 (NYSE:PSX) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,910 shares of the oil and gas company’s stock after purchasing an additional 122 shares during the quarter. Waldron Private Wealth LLC’s holdings in Phillips 66 were worth $653,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. First Capital Advisors Group LLC. bought a new position in Phillips 66 during the 2nd quarter worth approximately $25,000. Cornerstone Planning Group LLC raised its holdings in Phillips 66 by 134.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 151 shares during the last quarter. Worth Asset Management LLC bought a new position in Phillips 66 during the 1st quarter worth approximately $32,000. Bruce G. Allen Investments LLC bought a new position in Phillips 66 during the 4th quarter worth approximately $36,000. Finally, Bell Investment Advisors Inc increased its stake in shares of Phillips 66 by 82.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 138 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of NYSE:PSX traded up $0.38 during midday trading on Monday, reaching $162.87. The company had a trading volume of 198,796 shares, compared to its average volume of 3,035,381. The company’s 50 day moving average price is $153.37 and its 200 day moving average price is $134.25. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. The stock has a market cap of $69.68 billion, a P/E ratio of 10.50, a P/E/G ratio of 2.05 and a beta of 1.37. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. The company had revenue of $38.74 billion for the quarter, compared to the consensus estimate of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. As a group, sell-side analysts anticipate that Phillips 66 will post 13.2 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a dividend of $1.15 per share. The ex-dividend date is Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 2.82%. Phillips 66’s dividend payout ratio is 27.15%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays lifted their price objective on shares of Phillips 66 from $132.00 to $139.00 and gave the company an “equal weight” rating in a research note on Monday, February 5th. Piper Sandler lifted their price objective on shares of Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Bank of America lifted their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. StockNews.com upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Saturday, February 10th. Finally, Citigroup started coverage on shares of Phillips 66 in a research note on Wednesday, January 24th. They set a “buy” rating for the company. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.86.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Robert W. Pease acquired 682 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were bought at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the transaction, the director now owns 1,900 shares in the company, valued at $278,502. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The disclosure for this sale can be found here. Insiders have sold a total of 35,056 shares of company stock valued at $5,272,681 over the last three months. 0.22% of the stock is currently owned by insiders.

Phillips 66 Company 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.