49 Wealth Management LLC Increases Position in Phillips 66 (NYSE:PSX)

49 Wealth Management LLC raised its position in shares of Phillips 66 (NYSE:PSX) by 11.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,214 shares of the oil and gas company’s stock after buying an additional 425 shares during the period. 49 Wealth Management LLC’s holdings in Phillips 66 were worth $554,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of PSX. Crewe Advisors LLC acquired a new stake in shares of Phillips 66 during the first quarter worth about $25,000. CreativeOne Wealth LLC boosted its position in Phillips 66 by 51.5% in the 1st quarter. CreativeOne Wealth LLC now owns 3,209 shares of the oil and gas company’s stock valued at $524,000 after buying an additional 1,091 shares during the period. EP Wealth Advisors LLC grew its stake in shares of Phillips 66 by 16.3% in the first quarter. EP Wealth Advisors LLC now owns 8,286 shares of the oil and gas company’s stock worth $1,353,000 after acquiring an additional 1,162 shares in the last quarter. Axxcess Wealth Management LLC raised its stake in shares of Phillips 66 by 24.5% in the first quarter. Axxcess Wealth Management LLC now owns 12,203 shares of the oil and gas company’s stock valued at $1,993,000 after acquiring an additional 2,404 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in Phillips 66 by 518.2% in the first quarter. 1832 Asset Management L.P. now owns 182,021 shares of the oil and gas company’s stock valued at $29,731,000 after purchasing an additional 152,577 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PSX has been the topic of a number of analyst reports. UBS Group reduced their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a research note on Thursday, October 17th. Bank of America assumed coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective on the stock. Morgan Stanley lowered their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Finally, Wells Fargo & Company decreased their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $149.69.

Phillips 66 Trading Up 0.3 %

NYSE:PSX opened at $131.90 on Friday. Phillips 66 has a 1 year low of $114.94 and a 1 year high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock has a fifty day moving average price of $130.15 and a two-hundred day moving average price of $135.50. The stock has a market capitalization of $54.47 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 4.29 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business’s revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $4.63 EPS. As a group, sell-side analysts anticipate that Phillips 66 will post 7.63 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

About Phillips 66

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.