CWA Asset Management Group LLC Has $515,000 Stock Position in Phillips 66 (NYSE:PSX)

CWA Asset Management Group LLC grew its position in Phillips 66 (NYSE:PSX – Get Rating) by 17.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,948 shares of the oil and gas company’s stock after buying an additional 725 shares during the period. CWA Asset Management Group LLC’s holdings in Phillips 66 were worth $515,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Align Wealth Management LLC acquired a new stake in shares of Phillips 66 in the 4th quarter valued at $28,000. MinichMacGregor Wealth Management LLC acquired a new stake in shares of Phillips 66 in the 4th quarter valued at $162,000. Wedmont Private Capital acquired a new stake in shares of Phillips 66 in the 4th quarter valued at $283,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Phillips 66 by 41.0% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 10,726 shares of the oil and gas company’s stock valued at $1,116,000 after buying an additional 3,118 shares during the period. Finally, Martin Capital Partners LLC boosted its position in shares of Phillips 66 by 7.9% in the 4th quarter. Martin Capital Partners LLC now owns 35,816 shares of the oil and gas company’s stock worth $3,728,000 after purchasing an additional 2,607 shares during the last quarter. 70.76% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $94.72 on Friday. The firm has a market cap of $43.94 billion, a price-to-earnings ratio of 4.13, a price-to-earnings-growth ratio of 0.32 and a beta of 1.37. The stock’s 50-day moving average is $102.53 and its 200-day moving average is $99.45. Phillips 66 has a one year low of $74.02 and a one year high of $113.53. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.38 and a quick ratio of 1.17.

Phillips 66 (NYSE:PSX – Get Rating) last issued its quarterly earnings results on Tuesday, January 31st. The oil and gas company reported $4.00 EPS for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.35). The firm had revenue of $40.91 billion during the quarter, compared to the consensus estimate of $34.30 billion. Phillips 66 had a net margin of 6.27% and a return on equity of 31.20%. During the same quarter last year, the firm earned $2.94 earnings per share. Equities analysts predict that Phillips 66 will post 15.68 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Tuesday, February 21st were issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 4.43%. This is a positive change from Phillips 66’s previous quarterly dividend of $0.97. The ex-dividend date was Friday, February 17th. Phillips 66’s payout ratio is 18.30%.

Analysts Set New Price Targets

PSX has been the topic of several recent research reports. Royal Bank of Canada raised their price target on Phillips 66 from $130.00 to $132.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 8th. Piper Sandler reduced their price target on Phillips 66 from $155.00 to $137.00 and set an “overweight” rating on the stock in a research report on Monday, December 19th. Raymond James raised their price target on Phillips 66 from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, January 13th. Wells Fargo & Company reduced their price target on Phillips 66 from $134.00 to $127.00 and set an “overweight” rating on the stock in a research report on Thursday, January 5th. Finally, StockNews.com assumed coverage on Phillips 66 in a research report on Thursday. They issued a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $121.27.

Insider Activity

In related news, Director Gregory Hayes bought 10,250 shares of the stock in a transaction that occurred on Thursday, February 2nd. The shares were acquired at an average price of $97.75 per share, with a total value of $1,001,937.50. Following the completion of the transaction, the director now owns 14,299 shares in the company, valued at $1,397,727.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.74% of the company’s stock.

Phillips 66 Profile

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Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.