OneAscent Wealth Management LLC Sells 653 Shares of Phillips 66 (NYSE:PSX)

OneAscent Wealth Management LLC lowered its position in Phillips 66 (NYSE:PSX) by 17.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,155 shares of the oil and gas company’s stock after selling 653 shares during the period. OneAscent Wealth Management LLC’s holdings in Phillips 66 were worth $515,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pinnacle Bancorp Inc. boosted its holdings in Phillips 66 by 7.5% in the first quarter. Pinnacle Bancorp Inc. now owns 2,565 shares of the oil and gas company’s stock worth $419,000 after acquiring an additional 180 shares in the last quarter. Sendero Wealth Management LLC lifted its stake in Phillips 66 by 26.0% during the 1st quarter. Sendero Wealth Management LLC now owns 30,074 shares of the oil and gas company’s stock valued at $4,912,000 after acquiring an additional 6,201 shares during the period. Register Financial Advisors LLC purchased a new stake in shares of Phillips 66 in the 1st quarter valued at $176,000. Capital Asset Advisory Services LLC purchased a new position in shares of Phillips 66 during the first quarter worth $271,000. Finally, Indiana Trust & Investment Management CO acquired a new position in Phillips 66 during the first quarter valued at $73,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PSX. 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 report on Monday, April 1st. Wells Fargo & Company increased their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. The Goldman Sachs Group raised their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Piper Sandler decreased their price objective on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Finally, Raymond James cut their price target on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.79.

Insider Buying and Selling at Phillips 66

In related news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the transaction, the executive vice president now owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.22% of the company’s stock.

Phillips 66 Trading Up 1.3 %

Shares of Phillips 66 stock traded up $1.77 during mid-day trading on Friday, hitting $141.17. The stock had a trading volume of 10,211,532 shares, compared to its average volume of 2,338,853. The firm has a market cap of $59.85 billion, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 2.10 and a beta of 1.37. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average of $142.91 and a two-hundred day moving average of $144.57. Phillips 66 has a 12-month low of $93.40 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last posted 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 return on equity of 19.19% and a net margin of 3.84%. The business had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. During the same period last year, the business earned $4.21 EPS. Sell-side analysts forecast that Phillips 66 will post 11.08 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. Shareholders of record on Monday, May 20th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.26%. The ex-dividend date was Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

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.