Phillips 66 (NYSE:PSX) Shares Sold by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC trimmed its stake in shares of Phillips 66 (NYSE:PSX) by 6.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,253 shares of the oil and gas company’s stock after selling 2,397 shares during the quarter. Phillips 66 accounts for 1.0% of Alpha Omega Wealth Management LLC’s holdings, making the stock its 25th largest holding. Alpha Omega Wealth Management LLC’s holdings in Phillips 66 were worth $5,432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of PSX. Madison Park Capital Advisors LLC increased its stake in shares of Phillips 66 by 3.0% during the first quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock worth $383,000 after buying an additional 68 shares during the period. Warwick Investment Management Inc. increased its position in shares of Phillips 66 by 3.1% in the 4th quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock valued at $319,000 after purchasing an additional 73 shares during the last quarter. HCR Wealth Advisors raised its holdings in shares of Phillips 66 by 2.9% in the 4th quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock valued at $351,000 after purchasing an additional 74 shares in the last quarter. Nvwm LLC lifted its position in shares of Phillips 66 by 0.9% during the 4th quarter. Nvwm LLC now owns 8,286 shares of the oil and gas company’s stock worth $1,103,000 after purchasing an additional 75 shares during the last quarter. Finally, Cardinal Capital Management grew its stake in shares of Phillips 66 by 0.3% during the fourth quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock worth $3,104,000 after purchasing an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the sale, the executive vice president now owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Stock Up 1.3 %

Phillips 66 stock opened at $141.17 on Friday. The stock has a market capitalization of $59.85 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 2.12 and a beta of 1.37. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The stock has a 50 day moving average of $142.91 and a two-hundred day moving average of $144.70. Phillips 66 has a twelve month low of $93.40 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The company had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. During the same period in the prior year, the business earned $4.21 earnings per share. As a group, research analysts expect that Phillips 66 will post 11.08 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were issued 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 was Friday, May 17th. This represents a $4.60 annualized dividend and a dividend yield of 3.26%. Phillips 66’s payout ratio is presently 35.38%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PSX. JPMorgan Chase & Co. raised their price target on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Barclays decreased their target price on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 30th. Argus reaffirmed a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. Scotiabank raised their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Finally, Piper Sandler lowered their target price on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $157.79.

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.