Moser Wealth Advisors LLC Grows Holdings in Phillips 66 (NYSE:PSX)

Moser Wealth Advisors LLC boosted its position in Phillips 66 (NYSE:PSX) by 0.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 16,713 shares of the oil and gas company’s stock after purchasing an additional 98 shares during the period. Phillips 66 comprises 1.4% of Moser Wealth Advisors LLC’s investment portfolio, making the stock its 19th biggest position. Moser Wealth Advisors LLC’s holdings in Phillips 66 were worth $2,225,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in Phillips 66 by 4.2% during the third quarter. Barclays PLC now owns 7,760,709 shares of the oil and gas company’s stock worth $932,447,000 after buying an additional 309,239 shares during the last quarter. Morgan Stanley increased its position in Phillips 66 by 2.1% in the third quarter. Morgan Stanley now owns 6,768,960 shares of the oil and gas company’s stock worth $813,291,000 after buying an additional 138,646 shares during the last quarter. Northern Trust Corp raised its stake in shares of Phillips 66 by 6.2% in the third quarter. Northern Trust Corp now owns 4,881,094 shares of the oil and gas company’s stock valued at $586,463,000 after buying an additional 283,010 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Phillips 66 by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,924,738 shares of the oil and gas company’s stock valued at $389,393,000 after buying an additional 28,826 shares during the last quarter. Finally, LSV Asset Management lifted its position in shares of Phillips 66 by 2.0% during the 4th quarter. LSV Asset Management now owns 1,967,536 shares of the oil and gas company’s stock valued at $261,958,000 after buying an additional 38,673 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the sale, the vice president now owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction dated 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 owns 24,941 shares in the company, valued at approximately $3,648,120.07. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the sale, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. Insiders have sold a total of 35,056 shares of company stock worth $5,272,681 in the last ninety days. 0.22% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PSX. Bank of America boosted their price objective on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. The Goldman Sachs Group boosted their target price on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Scotiabank raised their price target on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. boosted their price objective on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Finally, Wells Fargo & Company increased their price objective on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and an average price target of $157.43.

Phillips 66 Price Performance

PSX traded up $1.70 during trading on Thursday, reaching $148.64. The stock had a trading volume of 272,299 shares, compared to its average volume of 2,909,449. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The business has a 50-day moving average of $155.48 and a 200-day moving average of $138.78. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The stock has a market cap of $63.02 billion, a PE ratio of 11.30, a PEG ratio of 1.82 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The firm had revenue of $36.44 billion during the quarter, compared to analysts’ expectations of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same period in the prior year, the company earned $4.21 EPS. As a group, equities research analysts anticipate that Phillips 66 will post 13.17 EPS 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. Stockholders of record on Monday, May 20th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is 32.31%.

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.