Phillips 66 (NYSE:PSX) Stock Position Decreased by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. decreased its position in Phillips 66 (NYSE:PSX) by 25.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,288 shares of the oil and gas company’s stock after selling 9,887 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Phillips 66 were worth $3,993,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in PSX. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Phillips 66 by 15.7% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 2,684 shares of the oil and gas company’s stock valued at $357,000 after purchasing an additional 364 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Phillips 66 by 17.8% during the 4th quarter. Jones Financial Companies Lllp now owns 2,320 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 350 shares in the last quarter. CWA Asset Management Group LLC increased its holdings in shares of Phillips 66 by 50.4% during the 4th quarter. CWA Asset Management Group LLC now owns 2,870 shares of the oil and gas company’s stock valued at $382,000 after acquiring an additional 962 shares during the last quarter. NEOS Investment Management LLC raised its stake in shares of Phillips 66 by 38.8% in the 4th quarter. NEOS Investment Management LLC now owns 6,233 shares of the oil and gas company’s stock valued at $830,000 after acquiring an additional 1,743 shares in the last quarter. Finally, Peapack Gladstone Financial Corp lifted its holdings in Phillips 66 by 2.6% in the 4th quarter. Peapack Gladstone Financial Corp now owns 9,525 shares of the oil and gas company’s stock worth $1,268,000 after purchasing an additional 242 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Up 0.3 %

Shares of PSX stock opened at $131.45 on Tuesday. Phillips 66 has a one year low of $107.85 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The stock has a fifty day moving average price of $134.13 and a 200 day moving average price of $142.78. The stock has a market cap of $55.73 billion, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 5.22 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The firm had revenue of $38.91 billion during 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 for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.87 earnings per share. Analysts predict that Phillips 66 will post 8.27 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.50%. Phillips 66’s dividend payout ratio is currently 35.38%.

Insider Activity

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

Analysts Set New Price Targets

Several brokerages have commented on PSX. Morgan Stanley lowered their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Piper Sandler lowered their target price on shares of Phillips 66 from $151.00 to $136.00 and set an “overweight” rating on the stock in a research note on Friday, September 20th. JPMorgan Chase & Co. cut their target price on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. TD Cowen lowered their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Finally, Wells Fargo & Company increased their target price on Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $154.21.

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.