B. Riley Wealth Advisors Inc. Has $3.99 Million Stake in Phillips 66 (NYSE:PSX)

B. Riley Wealth Advisors Inc. reduced its stake in Phillips 66 (NYSE:PSX) by 25.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,288 shares of the oil and gas company’s stock after selling 9,887 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Phillips 66 were worth $3,993,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PSX. Manning & Napier Advisors LLC acquired a new position in shares of Phillips 66 during the second quarter worth about $17,670,000. M&G Plc bought a new stake in Phillips 66 in the 2nd quarter valued at approximately $3,596,000. Duality Advisers LP bought a new stake in Phillips 66 in the 1st quarter valued at approximately $3,596,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Phillips 66 by 42.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock worth $21,844,000 after acquiring an additional 39,775 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its stake in shares of Phillips 66 by 14.3% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company’s stock worth $38,530,000 after acquiring an additional 36,116 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Up 0.3 %

PSX opened at $131.45 on Tuesday. The stock’s fifty day simple moving average is $134.13 and its 200 day simple moving average is $142.78. Phillips 66 has a 1-year low of $107.85 and a 1-year high of $174.08. The stock has a market cap of $55.73 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 5.22 and a beta of 1.33. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.33. The company had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.87 earnings per share. As a group, research analysts expect that Phillips 66 will post 8.27 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.50%. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Insider Transactions at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price objective on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. TD Cowen cut their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Raymond James raised their price objective on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Piper Sandler dropped their target price on Phillips 66 from $151.00 to $136.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. Finally, Wolfe Research began coverage on Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $154.21.

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.