Wealth Advisory Solutions LLC Has $909,000 Holdings in Phillips 66 (NYSE:PSX)

Wealth Advisory Solutions LLC boosted its holdings in Phillips 66 (NYSE:PSX) by 14.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,917 shares of the oil and gas company’s stock after purchasing an additional 889 shares during the quarter. Wealth Advisory Solutions LLC’s holdings in Phillips 66 were worth $909,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Douglas Lane & Associates LLC purchased a new position in shares of Phillips 66 during the first quarter valued at approximately $320,000. Cooper Financial Group boosted its holdings in Phillips 66 by 10.4% during the 1st quarter. Cooper Financial Group now owns 1,745 shares of the oil and gas company’s stock worth $285,000 after acquiring an additional 164 shares during the last quarter. Ballentine Partners LLC grew its stake in shares of Phillips 66 by 3.9% in the 1st quarter. Ballentine Partners LLC now owns 2,913 shares of the oil and gas company’s stock worth $476,000 after acquiring an additional 110 shares in the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Phillips 66 in the first quarter valued at about $4,696,000. Finally, Strategic Planning Group LLC lifted its position in shares of Phillips 66 by 14.8% during the first quarter. Strategic Planning Group LLC now owns 18,774 shares of the oil and gas company’s stock valued at $3,067,000 after purchasing an additional 2,414 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

PSX stock traded down $1.06 during midday trading on Monday, reaching $131.54. The company had a trading volume of 261,977 shares, compared to its average volume of 2,675,244. The firm has a 50-day moving average price of $133.18 and a 200-day moving average price of $140.20. 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 company has a market capitalization of $55.77 billion, a P/E ratio of 10.20, a P/E/G ratio of 5.75 and a beta of 1.33. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The business had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $3.87 earnings per share. On average, research analysts anticipate that Phillips 66 will post 7.85 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.50%. Phillips 66’s payout ratio is 35.38%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PSX shares. TD Cowen reduced their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Piper Sandler set a $144.00 target price on Phillips 66 in a research note on Thursday. Barclays decreased their price objective on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a report on Tuesday, October 8th. Scotiabank dropped their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Raymond James lifted their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $149.50.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated 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 owns 81,937 shares in the company, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is currently owned by company 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.