RWA Wealth Partners LLC Acquires 3,482 Shares of Phillips 66 (NYSE:PSX)

RWA Wealth Partners LLC grew its holdings in shares of Phillips 66 (NYSE:PSX) by 112.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,589 shares of the oil and gas company’s stock after acquiring an additional 3,482 shares during the quarter. RWA Wealth Partners LLC’s holdings in Phillips 66 were worth $877,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Cardinal Capital Management boosted its position in shares of Phillips 66 by 0.3% during the 4th quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock valued at $3,104,000 after acquiring an additional 77 shares during the last quarter. Aaron Wealth Advisors LLC boosted its position in shares of Phillips 66 by 3.6% during the 4th quarter. Aaron Wealth Advisors LLC now owns 2,340 shares of the oil and gas company’s stock valued at $312,000 after acquiring an additional 82 shares during the last quarter. Cornerstone Wealth Management LLC boosted its position in shares of Phillips 66 by 1.3% during the 4th quarter. Cornerstone Wealth Management LLC now owns 6,495 shares of the oil and gas company’s stock valued at $865,000 after acquiring an additional 86 shares during the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of Phillips 66 by 0.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 22,214 shares of the oil and gas company’s stock valued at $2,958,000 after acquiring an additional 90 shares during the last quarter. Finally, West Branch Capital LLC lifted its position in Phillips 66 by 49.5% in the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after buying an additional 91 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.6 %

NYSE PSX opened at $157.82 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08. The firm has a market capitalization of $67.52 billion, a PE ratio of 10.20, a P/E/G ratio of 1.95 and a beta of 1.37. The stock’s 50 day moving average is $155.18 and its 200 day moving average is $136.46.

Phillips 66 (NYSE:PSX) last released its quarterly 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 return on equity of 22.10% and a net margin of 4.68%. The company had revenue of $38.74 billion for the quarter, compared to analyst estimates of $34.30 billion. Research analysts forecast that Phillips 66 will post 13.59 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.91%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. Phillips 66’s payout ratio is 27.15%.

Insiders Place Their Bets

In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the transaction, 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 at the SEC website. Also, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the sale, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of recent research reports. Citigroup initiated coverage on Phillips 66 in a research report on Wednesday, January 24th. They issued a “buy” rating for the company. Barclays boosted their target price on Phillips 66 from $139.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. JPMorgan Chase & Co. lifted their price target on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. The Goldman Sachs Group lifted their price target on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, Piper Sandler lifted their price target on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $158.00.

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.