RWA Wealth Partners LLC Raises Stake in Phillips 66 (NYSE:PSX)

RWA Wealth Partners LLC boosted its holdings in Phillips 66 (NYSE:PSX) by 4.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,709 shares of the oil and gas company’s stock after purchasing an additional 263 shares during the quarter. RWA Wealth Partners LLC’s holdings in Phillips 66 were worth $764,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. CreativeOne Wealth LLC increased its holdings in Phillips 66 by 43.9% in the 3rd quarter. CreativeOne Wealth LLC now owns 3,697 shares of the oil and gas company’s stock valued at $486,000 after purchasing an additional 1,128 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Phillips 66 during the 3rd quarter valued at about $40,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Phillips 66 during the 3rd quarter worth approximately $292,000. Benjamin Edwards Inc. boosted its holdings in Phillips 66 by 557.0% in the 3rd quarter. Benjamin Edwards Inc. now owns 30,072 shares of the oil and gas company’s stock worth $3,954,000 after acquiring an additional 25,495 shares during the period. Finally, Community Bank N.A. grew its position in Phillips 66 by 3.9% in the third quarter. Community Bank N.A. now owns 16,977 shares of the oil and gas company’s stock valued at $2,232,000 after acquiring an additional 632 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $123.72 on Tuesday. The company has a market cap of $50.44 billion, a PE ratio of 25.04, a P/E/G ratio of 4.84 and a beta of 1.31. Phillips 66 has a fifty-two week low of $108.91 and a fifty-two week high of $174.08. The firm has a 50-day simple moving average of $124.82 and a 200 day simple moving average of $125.50. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the business earned $3.09 EPS. On average, sell-side analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is 93.12%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Wells Fargo & Company boosted their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Mizuho dropped their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Finally, Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $146.43.

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.