Moser Wealth Advisors LLC Has $2.29 Million Stock Position in Phillips 66 (NYSE:PSX)

Moser Wealth Advisors LLC grew its holdings in shares of Phillips 66 (NYSE:PSX) by 2.1% in the third quarter, Holdings Channel reports. The institutional investor owned 17,412 shares of the oil and gas company’s stock after acquiring an additional 358 shares during the period. Phillips 66 makes up 1.2% of Moser Wealth Advisors LLC’s investment portfolio, making the stock its 22nd largest holding. Moser Wealth Advisors LLC’s holdings in Phillips 66 were worth $2,289,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PSX. Crewe Advisors LLC acquired a new position in shares of Phillips 66 during the first quarter valued at about $25,000. Strategic Financial Concepts LLC acquired a new position in shares of Phillips 66 during the second quarter valued at about $26,000. nVerses Capital LLC acquired a new position in shares of Phillips 66 during the third quarter valued at about $26,000. Values First Advisors Inc. purchased a new position in Phillips 66 during the third quarter worth about $30,000. Finally, Bank & Trust Co purchased a new position in Phillips 66 during the second quarter worth about $31,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

NYSE PSX opened at $127.68 on Wednesday. The company’s 50 day moving average is $129.87 and its 200-day moving average is $136.21. Phillips 66 has a 12-month low of $111.90 and a 12-month high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The firm has a market cap of $52.73 billion, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 4.19 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. Phillips 66’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.63 EPS. Sell-side analysts predict that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PSX. Morgan Stanley cut their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. UBS Group cut their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Scotiabank cut their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. 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 report on Wednesday, September 11th. Finally, Wells Fargo & Company cut their price target on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $149.69.

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.