Independent Solutions Wealth Management LLC Has $1.73 Million Stake in Phillips 66 (NYSE:PSX)

Independent Solutions Wealth Management LLC reduced its stake in shares of Phillips 66 (NYSE:PSX) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,200 shares of the oil and gas company’s stock after selling 162 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Phillips 66 were worth $1,732,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quest Partners LLC raised its holdings in Phillips 66 by 324,800.0% in the third quarter. Quest Partners LLC now owns 3,249 shares of the oil and gas company’s stock worth $427,000 after purchasing an additional 3,248 shares during the period. Caprock Group LLC increased its position in shares of Phillips 66 by 1.3% in the 3rd quarter. Caprock Group LLC now owns 9,694 shares of the oil and gas company’s stock valued at $1,274,000 after buying an additional 127 shares in the last quarter. Prospera Financial Services Inc raised its stake in Phillips 66 by 6.8% during the 3rd quarter. Prospera Financial Services Inc now owns 29,040 shares of the oil and gas company’s stock worth $3,820,000 after buying an additional 1,849 shares during the period. Prospera Private Wealth LLC lifted its holdings in Phillips 66 by 98.4% during the third quarter. Prospera Private Wealth LLC now owns 3,349 shares of the oil and gas company’s stock worth $440,000 after acquiring an additional 1,661 shares in the last quarter. Finally, Commerce Bank grew its stake in Phillips 66 by 1.6% in the third quarter. Commerce Bank now owns 55,553 shares of the oil and gas company’s stock valued at $7,302,000 after acquiring an additional 874 shares during the period. 76.93% of the stock is owned by institutional investors.

Phillips 66 Trading Down 0.2 %

NYSE PSX opened at $128.78 on Friday. The company has a market cap of $52.50 billion, a PE ratio of 26.07, a PEG ratio of 4.84 and a beta of 1.31. Phillips 66 has a 12 month low of $108.91 and a 12 month high of $174.08. The stock has a 50 day moving average of $123.88 and a 200-day moving average of $125.81. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the company posted $3.09 earnings per share. On average, equities research analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a $1.15 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.57%. Phillips 66’s dividend payout ratio is 93.12%.

Analysts Set New Price Targets

A number of research firms have recently commented on PSX. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Barclays lifted their price target on shares of Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Wells Fargo & Company raised their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Mizuho reduced their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $149.43.

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.