Moss Adams Wealth Advisors LLC Purchases 419 Shares of Phillips 66 (NYSE:PSX)

Moss Adams Wealth Advisors LLC increased its holdings in Phillips 66 (NYSE:PSX) by 21.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,365 shares of the oil and gas company’s stock after acquiring an additional 419 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Phillips 66 were worth $292,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Tallon Kerry Patrick purchased a new position in shares of Phillips 66 in the 4th quarter valued at $336,000. Brighton Jones LLC grew its stake in Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after purchasing an additional 7,214 shares during the last quarter. Silver Oak Securities Incorporated raised its holdings in Phillips 66 by 46.5% in the fourth quarter. Silver Oak Securities Incorporated now owns 2,135 shares of the oil and gas company’s stock worth $239,000 after purchasing an additional 678 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in Phillips 66 in the fourth quarter worth about $2,301,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Phillips 66 during the fourth quarter valued at about $77,000. 76.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Phillips 66 news, Director Robert W. Pease acquired 439 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were bought at an average cost of $113.85 per share, with a total value of $49,980.15. Following the completion of the acquisition, the director now owns 4,091 shares in the company, valued at approximately $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PSX. UBS Group decreased their target price on shares of Phillips 66 from $144.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, April 28th. The Goldman Sachs Group lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective for the company. in a research report on Thursday, March 27th. TD Cowen boosted their price objective on shares of Phillips 66 from $114.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Morgan Stanley cut their price objective on Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Finally, Raymond James dropped their target price on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $135.62.

Phillips 66 Stock Up 1.6%

Phillips 66 stock opened at $116.09 on Tuesday. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12. The firm has a market cap of $47.30 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 4.84 and a beta of 1.02. The business’s 50-day moving average price is $108.06 and its 200 day moving average price is $117.71. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The firm had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. During the same period in the previous year, the business earned $1.90 EPS. As a group, sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $1.20 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date was Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a yield of 4.13%. Phillips 66’s payout ratio is presently 109.34%.

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.