Wealth Alliance Advisory Group LLC Decreases Position in Phillips 66 (NYSE:PSX)

Wealth Alliance Advisory Group LLC lessened its holdings in Phillips 66 (NYSE:PSX) by 1.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,137 shares of the oil and gas company’s stock after selling 134 shares during the quarter. Wealth Alliance Advisory Group LLC’s holdings in Phillips 66 were worth $1,290,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Madison Park Capital Advisors LLC raised its position in Phillips 66 by 3.0% in the 1st quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock worth $383,000 after purchasing an additional 68 shares during the period. Premier Path Wealth Partners LLC grew its holdings in Phillips 66 by 1.6% in the 1st quarter. Premier Path Wealth Partners LLC now owns 4,464 shares of the oil and gas company’s stock worth $729,000 after acquiring an additional 71 shares during the last quarter. Warwick Investment Management Inc. grew its holdings in Phillips 66 by 3.1% in the 4th quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock worth $319,000 after acquiring an additional 73 shares during the last quarter. MV Capital Management Inc. grew its holdings in Phillips 66 by 9.6% in the 1st quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock worth $137,000 after acquiring an additional 73 shares during the last quarter. Finally, HCR Wealth Advisors grew its holdings in Phillips 66 by 2.9% in the 4th quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock worth $351,000 after acquiring an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PSX shares. StockNews.com lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. JPMorgan Chase & Co. cut their target price on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Raymond James lifted their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Wolfe Research assumed coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Barclays lifted their target price on shares of Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.38.

Insider Transactions at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on 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 $11,390,062.37. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Shares of PSX opened at $140.31 on Friday. The stock has a market cap of $58.73 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 2.53 and a beta of 1.34. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08. The firm’s 50-day simple moving average is $137.85 and its two-hundred day simple moving average is $145.24.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.33. The firm had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.87 earnings per share. Analysts anticipate that Phillips 66 will post 9.25 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 annualized dividend and a dividend yield of 3.28%. Phillips 66’s dividend payout ratio is presently 35.38%.

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.