Independent Advisor Alliance Boosts Stock Position in Phillips 66 (NYSE:PSX)

Independent Advisor Alliance raised its stake in Phillips 66 (NYSE:PSX) by 11.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,740 shares of the oil and gas company’s stock after purchasing an additional 2,755 shares during the period. Independent Advisor Alliance’s holdings in Phillips 66 were worth $3,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PSX. CWA Asset Management Group LLC acquired a new stake in Phillips 66 in the third quarter worth about $244,000. Assetmark Inc. boosted its holdings in Phillips 66 by 20.9% in the third quarter. Assetmark Inc. now owns 2,692 shares of the oil and gas company’s stock worth $354,000 after acquiring an additional 466 shares in the last quarter. Covestor Ltd boosted its holdings in Phillips 66 by 25.4% in the third quarter. Covestor Ltd now owns 514 shares of the oil and gas company’s stock worth $68,000 after acquiring an additional 104 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Phillips 66 in the third quarter worth about $138,000. Finally, WCM Investment Management LLC boosted its holdings in Phillips 66 by 310.4% in the third quarter. WCM Investment Management LLC now owns 9,890 shares of the oil and gas company’s stock worth $1,296,000 after acquiring an additional 7,480 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

PSX has been the subject of several recent analyst reports. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a report on Friday, January 3rd. Wells Fargo & Company raised their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Mizuho decreased their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Finally, StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have given 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 $148.00.

Phillips 66 Stock Up 0.4 %

Shares of PSX stock opened at $124.07 on Thursday. The stock has a 50 day moving average of $122.45 and a 200 day moving average of $126.11. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a market cap of $50.58 billion, a P/E ratio of 25.12, a P/E/G ratio of 4.84 and a beta of 1.31. Phillips 66 has a twelve month low of $108.91 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate 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 period in the previous year, the firm earned $3.09 EPS. As a group, sell-side analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

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.