Alpha Omega Wealth Management LLC Has $4.75 Million Stock Position in Phillips 66 (NYSE:PSX)

Alpha Omega Wealth Management LLC lessened its stake in Phillips 66 (NYSE:PSX) by 2.4% in the fourth quarter, Holdings Channel reports. The firm owned 35,650 shares of the oil and gas company’s stock after selling 871 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Phillips 66 were worth $4,746,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PSX. Wells Fargo & Company MN lifted its holdings in shares of Phillips 66 by 0.6% during the 2nd quarter. Wells Fargo & Company MN now owns 17,121,154 shares of the oil and gas company’s stock worth $1,633,016,000 after acquiring an additional 97,198 shares during the period. Moneta Group Investment Advisors LLC lifted its stake in Phillips 66 by 100,843.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,979,304 shares of the oil and gas company’s stock worth $1,038,646,000 after purchasing an additional 9,969,418 shares during the last quarter. Barclays PLC raised its holdings in shares of Phillips 66 by 4.2% during the 3rd quarter. Barclays PLC now owns 7,760,709 shares of the oil and gas company’s stock worth $932,447,000 after buying an additional 309,239 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Phillips 66 by 62.1% during the 1st quarter. Wellington Management Group LLP now owns 7,188,087 shares of the oil and gas company’s stock worth $620,979,000 after buying an additional 2,753,700 shares during the last quarter. Finally, Morgan Stanley grew its position in Phillips 66 by 16.2% in the fourth quarter. Morgan Stanley now owns 6,961,625 shares of the oil and gas company’s stock valued at $724,566,000 after acquiring an additional 968,055 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at $3,648,120.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Robert W. Pease bought 682 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average cost of $146.58 per share, with a total value of $99,967.56. Following the completion of the purchase, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The disclosure for this sale can be found here. Insiders sold a total of 35,056 shares of company stock worth $5,272,681 in the last quarter. 0.22% of the stock is owned by company insiders.

Phillips 66 Trading Down 1.8 %

NYSE PSX traded down $2.94 during mid-day trading on Wednesday, reaching $157.88. 1,864,189 shares of the stock were exchanged, compared to its average volume of 2,282,078. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. The stock has a market cap of $67.54 billion, a P/E ratio of 10.21, a P/E/G ratio of 2.03 and a beta of 1.37. The stock has a 50 day simple moving average of $153.87 and a 200-day simple moving average of $134.78. Phillips 66 has a one year low of $89.74 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.72. The firm had revenue of $38.74 billion during the quarter, compared to analyst estimates of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. On average, analysts anticipate that Phillips 66 will post 13.2 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a dividend of $1.15 per share. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a yield of 2.91%. Phillips 66’s dividend payout ratio is 27.15%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. The Goldman Sachs Group increased their target price on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Scotiabank upped their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Barclays raised their price objective on Phillips 66 from $132.00 to $139.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. Mizuho lowered their target price on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Finally, Wells Fargo & Company lifted their price target on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $156.86.

Phillips 66 Company 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.