RWA Wealth Partners LLC Boosts Stock Holdings in Phillips 66 (NYSE:PSX)

RWA Wealth Partners LLC lifted its stake in shares of Phillips 66 (NYSE:PSX) by 112.1% during the fourth quarter, Holdings Channel reports. The fund owned 6,589 shares of the oil and gas company’s stock after acquiring an additional 3,482 shares during the period. RWA Wealth Partners LLC’s holdings in Phillips 66 were worth $877,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale increased its position in shares of Phillips 66 by 12.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after acquiring an additional 22,278 shares during the period. Eldred Rock Partners LLC purchased a new stake in shares of Phillips 66 during the fourth quarter worth $10,402,000. Choate Investment Advisors purchased a new stake in shares of Phillips 66 during the third quarter worth $247,000. First Dallas Securities Inc. purchased a new position in Phillips 66 in the third quarter valued at $753,000. Finally, TIAA Trust National Association increased its holdings in Phillips 66 by 32.9% in the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock valued at $1,973,000 after buying an additional 3,670 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Robert W. Pease bought 682 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was purchased at an average price of $146.58 per share, with a total value of $99,967.56. Following the transaction, the director now directly owns 1,900 shares in the company, valued at $278,502. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $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 quarter. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 0.6 %

NYSE:PSX opened at $157.82 on Thursday. The business’s 50-day moving average is $155.18 and its two-hundred day moving average is $136.46. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The firm has a market capitalization of $67.52 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 1.95 and a beta of 1.37.

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 analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The business had revenue of $38.74 billion during the quarter, compared to the consensus estimate of $34.30 billion. Research analysts predict that Phillips 66 will post 13.59 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a dividend of $1.15 per share. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 2.91%. Phillips 66’s payout ratio is presently 27.15%.

Analyst Ratings Changes

PSX has been the topic of several recent analyst reports. Scotiabank increased their target price on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Barclays raised their price objective on Phillips 66 from $139.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Citigroup initiated coverage on Phillips 66 in a report on Wednesday, January 24th. They set a “buy” rating on the stock. Piper Sandler raised their price objective on shares of Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus target price of $158.00.

Phillips 66 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.