Atria Wealth Solutions Inc. Purchases 2,519 Shares of Phillips 66 (NYSE:PSX)

Atria Wealth Solutions Inc. boosted its position in Phillips 66 (NYSE:PSX) by 7.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,449 shares of the oil and gas company’s stock after acquiring an additional 2,519 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Phillips 66 were worth $5,119,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Cardinal Capital Management increased its stake in Phillips 66 by 0.3% in the fourth quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock valued at $3,104,000 after acquiring an additional 77 shares during the last quarter. Aaron Wealth Advisors LLC increased its stake in Phillips 66 by 3.6% in the fourth quarter. Aaron Wealth Advisors LLC now owns 2,340 shares of the oil and gas company’s stock valued at $312,000 after acquiring an additional 82 shares during the last quarter. Cornerstone Wealth Management LLC increased its stake in Phillips 66 by 1.3% in the fourth quarter. Cornerstone Wealth Management LLC now owns 6,495 shares of the oil and gas company’s stock valued at $865,000 after acquiring an additional 86 shares during the last quarter. Stratos Wealth Partners LTD. increased its stake in Phillips 66 by 0.4% in the fourth quarter. Stratos Wealth Partners LTD. now owns 22,214 shares of the oil and gas company’s stock valued at $2,958,000 after acquiring an additional 90 shares during the last quarter. Finally, West Branch Capital LLC grew its stake in shares of Phillips 66 by 49.5% during the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after buying an additional 91 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Insider Activity at Phillips 66

In related news, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the transaction, the vice president now owns 6,583 shares in the company, valued at $1,036,164.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction 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 sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The disclosure for this sale can be found here. Insiders have sold a total of 35,056 shares of company stock worth $5,272,681 over the last quarter. Company insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $151.52 on Friday. The firm has a market cap of $64.82 billion, a PE ratio of 9.79, a price-to-earnings-growth ratio of 1.90 and a beta of 1.37. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The firm’s fifty day moving average is $155.55 and its 200-day moving average is $136.88.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.60 by ($0.70). Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. During the same quarter last year, the business posted $4.21 earnings per share. Sell-side analysts predict that Phillips 66 will post 13.77 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a $1.15 dividend. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 3.04%. Phillips 66’s payout ratio is presently 27.15%.

Analysts Set New Price Targets

A number of research firms have weighed in on PSX. Bank of America boosted their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Piper Sandler boosted their target price on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Barclays boosted their target price on shares of Phillips 66 from $139.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. The Goldman Sachs Group boosted their target price on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, StockNews.com cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Saturday. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.00.

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.