Western Wealth Management LLC Has $1.16 Million Holdings in Phillips 66 (NYSE:PSX)

Western Wealth Management LLC reduced its stake in shares of Phillips 66 (NYSE:PSX) by 29.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,194 shares of the oil and gas company’s stock after selling 4,186 shares during the quarter. Western Wealth Management LLC’s holdings in Phillips 66 were worth $1,161,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in Phillips 66 by 7.3% during the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock valued at $1,064,601,000 after purchasing an additional 639,323 shares during the last quarter. Geode Capital Management LLC raised its stake in Phillips 66 by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company’s stock valued at $968,844,000 after purchasing an additional 82,758 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Phillips 66 by 283.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock valued at $686,618,000 after purchasing an additional 4,455,220 shares during the last quarter. Northern Trust Corp raised its stake in Phillips 66 by 10.6% during the 4th quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company’s stock valued at $522,834,000 after purchasing an additional 440,107 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Phillips 66 in the 4th quarter valued at $497,648,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Up 1.1%

PSX opened at $112.97 on Friday. The firm’s 50-day simple moving average is $110.91 and its 200-day simple moving average is $119.13. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $150.12. The firm has a market cap of $46.03 billion, a price-to-earnings ratio of 22.87, a PEG ratio of 4.84 and a beta of 1.01.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $31.93 billion. During the same period in the previous year, the company posted $1.90 EPS. Equities research analysts anticipate 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 will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a yield of 4.25%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s dividend payout ratio is currently 109.34%.

Wall Street Analyst Weigh In

PSX has been the subject of a number of recent research reports. Morgan Stanley dropped their price objective on shares of Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group cut 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 note on Thursday, March 27th. JPMorgan Chase & Co. dropped 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. Raymond James dropped their price objective on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Finally, Barclays increased their price objective on shares of Phillips 66 from $106.00 to $115.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $137.86.

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.