Atria Wealth Solutions Inc. Trims Stake in Phillips 66 (NYSE:PSX)

Atria Wealth Solutions Inc. reduced its holdings in Phillips 66 (NYSE:PSX) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,849 shares of the oil and gas company’s stock after selling 950 shares during the period. Atria Wealth Solutions Inc.’s holdings in Phillips 66 were worth $2,945,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PSX. Bogart Wealth LLC grew its holdings in Phillips 66 by 120.0% in the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 120 shares during the period. Stephens Consulting LLC grew its holdings in Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 111 shares during the period. Values First Advisors Inc. acquired a new stake in shares of Phillips 66 in the third quarter worth approximately $30,000. Human Investing LLC acquired a new stake in shares of Phillips 66 in the fourth quarter worth approximately $30,000. Finally, Webster Bank N. A. boosted its stake in shares of Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 88 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Price Performance

NYSE:PSX opened at $128.78 on Friday. Phillips 66 has a 52 week low of $108.90 and a 52 week 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 company has a market capitalization of $53.18 billion, a P/E ratio of 26.07, a P/E/G ratio of 4.78 and a beta of 1.37. The stock’s fifty day moving average is $119.17 and its two-hundred day moving average is $127.11.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates 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 company posted $3.09 earnings per share. Equities analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be given a $1.15 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 3.57%. Phillips 66’s dividend payout ratio is currently 93.12%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PSX. StockNews.com raised Phillips 66 from a “sell” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company lifted their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, Barclays lowered their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 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.