180 Wealth Advisors LLC Sells 132 Shares of Phillips 66 (NYSE:PSX)

180 Wealth Advisors LLC cut its holdings in Phillips 66 (NYSE:PSX) by 6.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,983 shares of the oil and gas company’s stock after selling 132 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Phillips 66 were worth $324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Mutual Advisors LLC raised its position in shares of Phillips 66 by 2.9% in the 3rd quarter. Mutual Advisors LLC now owns 8,425 shares of the oil and gas company’s stock worth $1,012,000 after acquiring an additional 234 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Phillips 66 by 369.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 27,135 shares of the oil and gas company’s stock valued at $3,260,000 after buying an additional 21,355 shares in the last quarter. Itau Unibanco Holding S.A. boosted its holdings in shares of Phillips 66 by 43.5% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 597 shares of the oil and gas company’s stock valued at $72,000 after buying an additional 181 shares in the last quarter. Caxton Associates LP purchased a new stake in shares of Phillips 66 in the 3rd quarter worth about $320,000. Finally, Richard Bernstein Advisors LLC purchased a new position in Phillips 66 during the 3rd quarter valued at about $2,820,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

PSX stock traded up $1.69 during trading on Friday, reaching $141.09. The stock had a trading volume of 498,115 shares, compared to its average volume of 2,716,474. The stock’s 50 day moving average is $143.46 and its two-hundred day moving average is $144.50. The firm has a market cap of $59.82 billion, a PE ratio of 10.72, a PEG ratio of 2.08 and a beta of 1.37. Phillips 66 has a 52 week low of $93.40 and a 52 week high of $174.08. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX) last announced 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). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The business had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same quarter last year, the firm posted $4.21 earnings per share. As a group, equities analysts anticipate that Phillips 66 will post 11.22 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were issued a $1.15 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PSX. Mizuho cut their price objective on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Argus reissued a “buy” rating and issued a $167.00 target price on shares of Phillips 66 in a report on Thursday, May 30th. Scotiabank raised their price target on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Bank of America upped their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Finally, Wells Fargo & Company upped their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $157.79.

Insider Buying and Selling at Phillips 66

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

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.