Wealth Alliance Has $487,000 Stock Position in Phillips 66 (NYSE:PSX)

Wealth Alliance reduced its stake in Phillips 66 (NYSE:PSX) by 37.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,447 shares of the oil and gas company’s stock after selling 2,076 shares during the quarter. Wealth Alliance’s holdings in Phillips 66 were worth $487,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Gryphon Financial Partners LLC lifted its holdings in Phillips 66 by 11.4% during the 4th quarter. Gryphon Financial Partners LLC now owns 4,166 shares of the oil and gas company’s stock worth $546,000 after purchasing an additional 426 shares during the last quarter. TrinityPoint Wealth LLC lifted its holdings in shares of Phillips 66 by 14.9% during the fourth quarter. TrinityPoint Wealth LLC now owns 5,170 shares of the oil and gas company’s stock worth $688,000 after buying an additional 672 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Phillips 66 by 55.1% in the fourth quarter. Clearbridge Investments LLC now owns 33,625 shares of the oil and gas company’s stock valued at $4,477,000 after acquiring an additional 11,945 shares during the period. Assetmark Inc. grew its stake in shares of Phillips 66 by 792.6% in the fourth quarter. Assetmark Inc. now owns 1,455 shares of the oil and gas company’s stock valued at $194,000 after acquiring an additional 1,292 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd increased its position in Phillips 66 by 201.2% during the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 35,930 shares of the oil and gas company’s stock worth $4,784,000 after acquiring an additional 24,000 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Trading Up 1.7 %

Shares of Phillips 66 stock opened at $132.56 on Friday. The firm’s 50 day moving average is $135.37 and its 200 day moving average is $143.79. The firm has a market capitalization of $55.49 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 4.53 and a beta of 1.33. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The firm had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.87 earnings per share. Equities research analysts forecast that Phillips 66 will post 9.25 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a $1.15 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.47%. Phillips 66’s payout ratio is presently 35.38%.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PSX shares. Scotiabank cut their price objective on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Argus reiterated a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a research note on Thursday, May 30th. Piper Sandler lowered their price objective on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Raymond James upped their target price on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley decreased their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.29.

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.