Wealth Alliance Has $487,000 Stake in Phillips 66 (NYSE:PSX)

Wealth Alliance lessened its stake in Phillips 66 (NYSE:PSX) by 37.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,447 shares of the oil and gas company’s stock after selling 2,076 shares during the period. Wealth Alliance’s holdings in Phillips 66 were worth $487,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PSX. Crewe Advisors LLC acquired a new position in shares of Phillips 66 in the first quarter worth approximately $25,000. Keener Financial Planning LLC bought a new position in Phillips 66 during the first quarter worth $26,000. Strategic Financial Concepts LLC acquired a new position in Phillips 66 in the second quarter valued at $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Phillips 66 during the 4th quarter worth about $27,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of Phillips 66 in the 1st quarter worth about $28,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $132.56 on Friday. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The business has a 50 day moving average price of $135.37 and a 200-day moving average price of $143.79. The company has a market cap of $55.49 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 4.53 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The business had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. Phillips 66’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.87 EPS. Equities 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 declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.22% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PSX shares. Morgan Stanley cut their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday. TD Cowen reduced their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Wells Fargo & Company boosted their target price on shares of Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Barclays increased their target price on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Finally, Wolfe Research assumed coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $155.29.

Phillips 66 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.