Phillips 66 (NYSE:PSX) Stock Holdings Lessened by Western Wealth Management LLC

Western Wealth Management LLC cut its position in Phillips 66 (NYSE:PSX) by 2.0% during the 4th quarter, HoldingsChannel reports. The firm owned 15,376 shares of the oil and gas company’s stock after selling 319 shares during the quarter. Western Wealth Management LLC’s holdings in Phillips 66 were worth $2,047,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of PSX. Moneta Group Investment Advisors LLC lifted its position in Phillips 66 by 100,843.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 9,979,304 shares of the oil and gas company’s stock valued at $1,038,646,000 after purchasing an additional 9,969,418 shares during the last quarter. Barclays PLC lifted its position in Phillips 66 by 416.9% in the 2nd quarter. Barclays PLC now owns 7,451,470 shares of the oil and gas company’s stock valued at $710,721,000 after purchasing an additional 6,009,826 shares during the last quarter. Norges Bank bought a new stake in Phillips 66 in the 4th quarter valued at about $364,237,000. Wellington Management Group LLP lifted its position in Phillips 66 by 62.1% in the 1st quarter. Wellington Management Group LLP now owns 7,188,087 shares of the oil and gas company’s stock valued at $620,979,000 after purchasing an additional 2,753,700 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Phillips 66 in the 4th quarter valued at about $254,336,000. 76.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the sale, the vice president now directly owns 6,583 shares in the company, valued at $1,036,164.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert W. Pease bought 682 shares of the company’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 transaction, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The disclosure for this purchase can be found here. Insiders sold 35,056 shares of company stock worth $5,272,681 over the last ninety days. 0.22% of the stock is currently owned by insiders.

Phillips 66 Stock Up 2.2 %

Shares of PSX stock traded up $3.41 during trading on Friday, hitting $156.72. 500,780 shares of the company were exchanged, compared to its average volume of 2,979,490. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. The firm has a market capitalization of $67.05 billion, a price-to-earnings ratio of 9.91, a P/E/G ratio of 1.98 and a beta of 1.37. The business’s 50-day simple moving average is $154.22 and its 200 day simple moving average is $135.06. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.37 by $0.72. The business had revenue of $38.74 billion during the quarter, compared to analysts’ expectations of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. As a group, analysts forecast that Phillips 66 will post 13.25 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a yield of 2.94%. Phillips 66’s payout ratio is 27.15%.

Analyst Ratings Changes

Several research firms have commented on PSX. Citigroup began coverage on shares of Phillips 66 in a research note on Wednesday, January 24th. They set a “buy” rating on the stock. Mizuho lowered their price objective on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Raymond James lifted their target price on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. lifted their target price on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Finally, Piper Sandler lifted their target price on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $158.00.

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.