Atria Wealth Solutions Inc. Acquires 2,519 Shares of Phillips 66 (NYSE:PSX)

Atria Wealth Solutions Inc. lifted its holdings in Phillips 66 (NYSE:PSX) by 7.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,449 shares of the oil and gas company’s stock after purchasing an additional 2,519 shares during the period. Atria Wealth Solutions Inc.’s holdings in Phillips 66 were worth $5,119,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its stake in 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 valued at $26,501,000 after acquiring an additional 22,278 shares during the period. Eldred Rock Partners LLC bought a new position in Phillips 66 during the fourth quarter valued at about $10,402,000. Choate Investment Advisors bought a new position in Phillips 66 during the third quarter valued at about $247,000. First Dallas Securities Inc. bought a new position in Phillips 66 during the third quarter valued at about $753,000. Finally, TIAA Trust National Association increased its stake in Phillips 66 by 32.9% during 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 acquiring an additional 3,670 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Down 3.6 %

Shares of PSX opened at $151.52 on Friday. The company has a market capitalization of $64.82 billion, a P/E ratio of 9.79, a PEG ratio of 1.90 and a beta of 1.37. 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 one year low of $89.74 and a one year high of $174.08. The business’s 50 day simple moving average is $155.55 and its 200-day simple moving average is $136.88.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.60 by ($0.70). Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. During the same period last year, the company earned $4.21 earnings per share. As a group, sell-side analysts predict that Phillips 66 will post 13.77 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a dividend of $1.15 per share. This is an increase 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 3.04%. Phillips 66’s dividend payout ratio is currently 27.15%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Scotiabank boosted their price target on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research note on Saturday. Piper Sandler upped their price objective on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Mizuho lowered their price objective on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Finally, Raymond James upped their price objective on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $158.00.

Insiders Place Their Bets

In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is currently owned by corporate insiders.

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.