Western Wealth Management LLC Cuts Stock Position in Phillips 66 (NYSE:PSX)

Western Wealth Management LLC lowered its stake in Phillips 66 (NYSE:PSX) by 2.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,376 shares of the oil and gas company’s stock after selling 319 shares during the period. Western Wealth Management LLC’s holdings in Phillips 66 were worth $2,047,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cardinal Capital Management raised its position in shares of Phillips 66 by 0.3% in the fourth quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock worth $3,104,000 after acquiring an additional 77 shares during the period. Aaron Wealth Advisors LLC raised its position in shares of Phillips 66 by 3.6% in the fourth quarter. Aaron Wealth Advisors LLC now owns 2,340 shares of the oil and gas company’s stock worth $312,000 after acquiring an additional 82 shares during the period. Cornerstone Wealth Management LLC raised its position in shares of Phillips 66 by 1.3% in the fourth quarter. Cornerstone Wealth Management LLC now owns 6,495 shares of the oil and gas company’s stock worth $865,000 after acquiring an additional 86 shares during the period. Stratos Wealth Partners LTD. raised its position in shares of Phillips 66 by 0.4% in the fourth quarter. Stratos Wealth Partners LTD. now owns 22,214 shares of the oil and gas company’s stock worth $2,958,000 after acquiring an additional 90 shares during the period. Finally, West Branch Capital LLC raised its position in shares of Phillips 66 by 49.5% in the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 91 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In other news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The disclosure for this sale can be found here. In the last three months, insiders sold 35,056 shares of company stock valued at $5,272,681. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on PSX. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Thursday. Citigroup began coverage on shares of Phillips 66 in a research report on Wednesday, January 24th. They set a “buy” rating for the company. Barclays upped their price target on shares of Phillips 66 from $139.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday. Raymond James upped their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, The Goldman Sachs Group upped their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $158.00.

Phillips 66 Trading Up 2.2 %

Phillips 66 stock traded up $3.41 during trading on Friday, hitting $156.72. The company had a trading volume of 500,780 shares, compared to its average volume of 2,979,490. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. The company’s 50 day simple moving average is $154.22 and its 200-day simple moving average is $135.06. The stock has a market cap of $67.05 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 1.98 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The firm had revenue of $38.74 billion during the quarter, compared to the consensus estimate of $34.30 billion. As a group, analysts expect that Phillips 66 will post 13.25 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a $1.15 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 annualized dividend and a dividend yield of 2.94%. Phillips 66’s payout ratio is 27.15%.

About Phillips 66

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.