Wealthcare Advisory Partners LLC Reduces Holdings in Phillips 66 (NYSE:PSX)

Wealthcare Advisory Partners LLC cut its holdings in shares of Phillips 66 (NYSE:PSX) by 7.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,744 shares of the oil and gas company’s stock after selling 360 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Phillips 66 were worth $632,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new position in Phillips 66 in the 4th quarter worth approximately $254,336,000. Bahl & Gaynor Inc. raised its stake in shares of Phillips 66 by 41.2% during the 3rd quarter. Bahl & Gaynor Inc. now owns 1,506,861 shares of the oil and gas company’s stock valued at $181,049,000 after purchasing an additional 439,360 shares during the period. Acadian Asset Management LLC lifted its holdings in Phillips 66 by 1,038.3% during the 3rd quarter. Acadian Asset Management LLC now owns 472,208 shares of the oil and gas company’s stock worth $56,720,000 after purchasing an additional 430,723 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Phillips 66 by 53.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,214,738 shares of the oil and gas company’s stock valued at $145,951,000 after buying an additional 421,714 shares in the last quarter. Finally, Nomura Holdings Inc. grew its holdings in Phillips 66 by 10,239.5% during the 3rd quarter. Nomura Holdings Inc. now owns 399,000 shares of the oil and gas company’s stock valued at $47,940,000 after buying an additional 395,141 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PSX. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday. The Goldman Sachs Group raised their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Bank of America upped their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Piper Sandler increased their price objective on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Finally, Barclays reduced their target price on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $157.43.

Phillips 66 Price Performance

PSX opened at $146.94 on Thursday. The stock has a market capitalization of $62.30 billion, a P/E ratio of 11.30, a PEG ratio of 1.82 and a beta of 1.41. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The stock has a 50-day moving average price of $155.48 and a 200-day moving average price of $138.78.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). The business had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the prior year, the business posted $4.21 EPS. Equities analysts predict that Phillips 66 will post 13.17 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 annualized dividend and a dividend yield of 3.13%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is currently 32.31%.

Insider Activity

In related news, VP Joseph Scott Pruitt sold 5,922 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $157.40, for a total transaction of $932,122.80. Following the transaction, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,036,164.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, VP Joseph Scott Pruitt sold 5,922 shares of the company’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 completion of the sale, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,036,164.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,056 shares of company stock valued at $5,272,681. Insiders own 0.22% of the company’s stock.

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.