Moss Adams Wealth Advisors LLC Purchases 247 Shares of Phillips 66 (NYSE:PSX)

Moss Adams Wealth Advisors LLC increased its position in Phillips 66 (NYSE:PSX) by 12.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,243 shares of the oil and gas company’s stock after buying an additional 247 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Phillips 66 were worth $295,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Manning & Napier Advisors LLC bought a new position in shares of Phillips 66 during the second quarter worth $17,670,000. M&G Plc purchased a new position in shares of Phillips 66 during the second quarter valued at about $3,596,000. Duality Advisers LP bought a new stake in shares of Phillips 66 in the first quarter worth about $3,596,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Phillips 66 by 42.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock worth $21,844,000 after purchasing an additional 39,775 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Phillips 66 by 69.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 37,802 shares of the oil and gas company’s stock worth $6,175,000 after buying an additional 15,542 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the sale, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 0.6 %

Shares of NYSE PSX opened at $132.60 on Friday. The business’s 50 day moving average price is $133.18 and its 200-day moving average price is $140.43. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The company has a market cap of $56.22 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 5.75 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The business had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.87 earnings per share. On average, sell-side analysts expect that Phillips 66 will post 7.85 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.47%. Phillips 66’s dividend payout ratio is currently 35.38%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PSX shares. Mizuho cut their price target on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Wolfe Research began coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Scotiabank lowered their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Barclays reduced their target price on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 8th. Finally, Raymond James increased their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $149.50.

About Phillips 66

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.