Waldron Private Wealth LLC Buys 175 Shares of Phillips 66 (NYSE:PSX)

Waldron Private Wealth LLC boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 3.6% during the third quarter, Holdings Channel reports. The firm owned 5,079 shares of the oil and gas company’s stock after acquiring an additional 175 shares during the quarter. Waldron Private Wealth LLC’s holdings in Phillips 66 were worth $668,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. MV Capital Management Inc. increased its holdings in Phillips 66 by 9.6% during the 1st quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock valued at $137,000 after purchasing an additional 73 shares during the period. Mitchell & Pahl Private Wealth LLC increased its holdings in Phillips 66 by 0.4% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock valued at $2,519,000 after purchasing an additional 74 shares during the period. Catalyst Financial Partners LLC increased its holdings in Phillips 66 by 5.1% during the 2nd 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 period. Claro Advisors LLC increased its holdings in Phillips 66 by 4.5% during the 1st quarter. Claro Advisors LLC now owns 1,738 shares of the oil and gas company’s stock valued at $284,000 after purchasing an additional 75 shares during the period. Finally, Advisory Alpha LLC increased 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 purchasing an additional 76 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Mizuho reduced their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. TD Cowen reduced their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Raymond James upped their target price on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Scotiabank reduced their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Bank of America assumed coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $149.50.

Phillips 66 Stock Performance

PSX stock opened at $131.43 on Wednesday. The stock has a market capitalization of $55.01 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 5.68 and a beta of 1.33. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The stock’s 50 day simple moving average is $133.02 and its 200 day simple moving average is $139.65.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.33. The business had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.87 EPS. As a group, research analysts forecast that Phillips 66 will post 7.81 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. Investors of record on Monday, November 18th will be given a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.50%. Phillips 66’s dividend payout ratio (DPR) is presently 39.45%.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was 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 directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is currently owned by 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.