Beaird Harris Wealth Management LLC Cuts Stake in Phillips 66 (NYSE:PSX)

Beaird Harris Wealth Management LLC lowered its holdings in shares of Phillips 66 (NYSE:PSX) by 79.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 734 shares of the oil and gas company’s stock after selling 2,924 shares during the period. Beaird Harris Wealth Management LLC’s holdings in Phillips 66 were worth $96,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Catalyst Financial Partners LLC lifted its position in Phillips 66 by 5.1% in the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock valued at $214,000 after purchasing an additional 74 shares during the last quarter. Advisory Alpha LLC raised its holdings in Phillips 66 by 4.8% during the 2nd quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock valued at $233,000 after buying an additional 76 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its holdings in Phillips 66 by 1.8% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,363 shares of the oil and gas company’s stock valued at $616,000 after buying an additional 77 shares during the last quarter. Krane Funds Advisors LLC boosted its position in Phillips 66 by 3.6% during the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock valued at $309,000 after buying an additional 82 shares during the period. Finally, Richwood Investment Advisors LLC grew its holdings in Phillips 66 by 1.9% in the 3rd quarter. Richwood Investment Advisors LLC now owns 4,580 shares of the oil and gas company’s stock worth $602,000 after acquiring an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $122.72 on Friday. The company has a 50 day simple moving average of $129.86 and a two-hundred day simple moving average of $133.91. Phillips 66 has a fifty-two week low of $119.77 and a fifty-two week high of $174.08. The company has a market capitalization of $50.68 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 4.14 and a beta of 1.35. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same quarter last year, the company earned $4.63 EPS. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. Analysts expect that Phillips 66 will post 7.56 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend was Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is 59.05%.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of analyst reports. UBS Group dropped their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Bank of America assumed coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective on the stock. Wells Fargo & Company decreased their target price on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a report on Monday, December 9th. Mizuho cut their price target on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Finally, Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.23.

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.