B. Riley Wealth Advisors Inc. Acquires 5,089 Shares of Phillips 66 (NYSE:PSX)

B. Riley Wealth Advisors Inc. lifted its holdings in Phillips 66 (NYSE:PSX) by 15.4% during the 1st quarter, HoldingsChannel reports. The fund owned 38,175 shares of the oil and gas company’s stock after acquiring an additional 5,089 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Phillips 66 were worth $6,236,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Crewe Advisors LLC acquired a new stake in Phillips 66 in the first quarter valued at approximately $25,000. Keener Financial Planning LLC bought a new position in Phillips 66 during the first quarter valued at $26,000. Redmont Wealth Advisors LLC bought a new position in Phillips 66 in the 1st quarter worth approximately $28,000. Ruedi Wealth Management Inc. lifted its holdings in shares of Phillips 66 by 102.1% in the first quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock worth $31,000 after buying an additional 96 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in shares of Phillips 66 during the 4th quarter valued at about $27,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Mizuho dropped their price target on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Scotiabank dropped their price target on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Wells Fargo & Company reduced their price objective on shares of Phillips 66 from $180.00 to $176.00 and set an “overweight” rating on the stock in a research report on Wednesday. Wolfe Research started coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.23.

Insider Transactions at Phillips 66

In related news, EVP Timothy D. Roberts sold 37,742 shares of the company’s 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 in the company, valued at $7,051,617. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Price Performance

Shares of Phillips 66 stock traded down $1.69 during trading on Wednesday, hitting $145.48. The stock had a trading volume of 2,272,642 shares, compared to its average volume of 2,672,963. The business has a fifty day moving average of $139.12 and a two-hundred day moving average of $145.76. The firm has a market cap of $61.68 billion, a P/E ratio of 11.24, a PEG ratio of 2.49 and a beta of 1.34. Phillips 66 has a fifty-two week low of $107.41 and a fifty-two week high of $174.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.98 by $0.33. The business had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. Phillips 66’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business posted $3.87 earnings per share. On average, sell-side analysts expect that Phillips 66 will post 9.4 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Tuesday, August 20th. Phillips 66’s dividend payout ratio is 35.38%.

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.