Angeles Wealth Management LLC Trims Stake in Phillips 66 $PSX

Angeles Wealth Management LLC decreased its position in shares of Phillips 66 (NYSE:PSXFree Report) by 6.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 4,011 shares of the oil and gas company’s stock after selling 283 shares during the period. Angeles Wealth Management LLC’s holdings in Phillips 66 were worth $479,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Riverbend Wealth Management LLC boosted its position in shares of Phillips 66 by 4.6% in the 2nd quarter. Riverbend Wealth Management LLC now owns 3,395 shares of the oil and gas company’s stock worth $405,000 after purchasing an additional 149 shares in the last quarter. Stratos Investment Management LLC boosted its position in shares of Phillips 66 by 6.7% in the 2nd quarter. Stratos Investment Management LLC now owns 31,657 shares of the oil and gas company’s stock worth $3,777,000 after purchasing an additional 1,974 shares in the last quarter. Master S Wealth Management Inc. boosted its position in shares of Phillips 66 by 40.7% in the 2nd quarter. Master S Wealth Management Inc. now owns 3,391 shares of the oil and gas company’s stock worth $405,000 after purchasing an additional 981 shares in the last quarter. Harbor Asset Planning Inc. bought a new stake in shares of Phillips 66 in the 2nd quarter worth approximately $64,000. Finally, Alta Capital Management LLC boosted its position in shares of Phillips 66 by 8.8% in the 2nd quarter. Alta Capital Management LLC now owns 10,564 shares of the oil and gas company’s stock worth $1,260,000 after purchasing an additional 852 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PSX shares. Scotiabank reissued a “sector perform” rating and issued a $133.00 price target on shares of Phillips 66 in a research report on Friday, July 11th. Morgan Stanley boosted their price target on Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, October 3rd. Piper Sandler boosted their price target on Phillips 66 from $154.00 to $155.00 and gave the stock a “neutral” rating in a research report on Monday, September 29th. Wells Fargo & Company began coverage on Phillips 66 in a research report on Friday. They issued an “overweight” rating and a $154.00 price target on the stock. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $150.00 price objective (up from $145.00) on shares of Phillips 66 in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.50.

Check Out Our Latest Research Report on Phillips 66

Phillips 66 Stock Performance

PSX stock opened at $129.21 on Friday. The stock has a market capitalization of $52.22 billion, a PE ratio of 31.06, a price-to-earnings-growth ratio of 1.78 and a beta of 1.11. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.35. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The stock’s 50 day simple moving average is $130.43 and its 200 day simple moving average is $120.81.

Phillips 66 (NYSE:PSXGet Free Report) last released its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.59. The business had revenue of $33.77 billion for the quarter, compared to analysts’ expectations of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same period in the prior year, the firm posted $2.31 EPS. As a group, research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio is presently 115.38%.

Insider Transactions at Phillips 66

In other news, Director Michael A. Heim purchased 1,000 shares of the stock in a transaction dated Wednesday, July 30th. The shares were purchased at an average cost of $125.97 per share, with a total value of $125,970.00. Following the acquisition, the director directly owned 12,043 shares of the company’s stock, valued at $1,517,056.71. This represents a 9.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sigmund L. Cornelius purchased 500 shares of the stock in a transaction dated Thursday, July 31st. The shares were purchased at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the completion of the acquisition, the director directly owned 21,543 shares in the company, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 9,850 shares of company stock valued at $1,188,910 over the last 90 days. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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