Alpha Omega Wealth Management LLC Has $4.14 Million Position in Phillips 66 (NYSE:PSX)

Alpha Omega Wealth Management LLC increased its stake in Phillips 66 (NYSE:PSX) by 1.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 33,495 shares of the oil and gas company’s stock after purchasing an additional 557 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Phillips 66 were worth $4,136,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bogart Wealth LLC raised its holdings in Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after buying an additional 120 shares during the last quarter. J.Safra Asset Management Corp purchased a new position in shares of Phillips 66 in the 4th quarter worth about $25,000. Pacific Center for Financial Services bought a new position in shares of Phillips 66 during the 4th quarter valued at approximately $27,000. Graney & King LLC bought a new position in Phillips 66 during the fourth quarter valued at $28,000. Finally, Wood Tarver Financial Group LLC purchased a new stake in Phillips 66 in the 4th quarter worth about $29,000. 76.93% of the stock is owned by institutional investors.

Insider Activity

In other Phillips 66 news, Director Robert W. Pease bought 439 shares of Phillips 66 stock in a transaction on Thursday, May 22nd. The stock was acquired 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 represents a 12.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Scotiabank lowered their target price on shares of Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. UBS Group cut 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. JPMorgan Chase & Co. cut their price objective on shares of Phillips 66 from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Tuesday, April 29th. TD Cowen raised their price target on Phillips 66 from $114.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Finally, Tudor Pickering cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus target price of $135.62.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $118.67 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The company has a 50 day simple moving average of $108.29 and a two-hundred day simple moving average of $117.71. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12. The company has a market capitalization of $48.35 billion, a price-to-earnings ratio of 24.02, a P/E/G ratio of 4.84 and a beta of 1.02.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). The firm had revenue of $31.92 billion for the quarter, compared to analysts’ expectations of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period last year, the company posted $1.90 earnings per share. Analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 4.04%. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Monday, May 19th. 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.