CarsonAllaria Wealth Management Ltd. Acquires 684 Shares of Phillips 66 (NYSE:PSX)

CarsonAllaria Wealth Management Ltd. lifted its stake in shares of Phillips 66 (NYSE:PSX) by 115.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,277 shares of the oil and gas company’s stock after purchasing an additional 684 shares during the period. CarsonAllaria Wealth Management Ltd.’s holdings in Phillips 66 were worth $168,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Advisory Solutions LLC lifted its stake in Phillips 66 by 14.7% in the third quarter. Wealth Advisory Solutions LLC now owns 6,917 shares of the oil and gas company’s stock valued at $909,000 after buying an additional 889 shares during the period. McClarren Financial Advisors Inc. boosted its holdings in shares of Phillips 66 by 132.3% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 655 shares of the oil and gas company’s stock valued at $86,000 after buying an additional 373 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Phillips 66 by 22.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 118,782 shares of the oil and gas company’s stock valued at $15,614,000 after buying an additional 21,840 shares in the last quarter. New Century Financial Group LLC increased its holdings in Phillips 66 by 3.1% during the third quarter. New Century Financial Group LLC now owns 4,660 shares of the oil and gas company’s stock worth $613,000 after buying an additional 139 shares during the last quarter. Finally, Cadent Capital Advisors LLC raised its position in Phillips 66 by 17.0% during the third quarter. Cadent Capital Advisors LLC now owns 2,861 shares of the oil and gas company’s stock worth $376,000 after acquiring an additional 415 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wells Fargo & Company reduced their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Piper Sandler set a $144.00 target price on Phillips 66 in a report on Thursday. Scotiabank dropped their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. JPMorgan Chase & Co. reduced their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Finally, TD Cowen dropped their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $149.50.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the sale, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.22% of the stock is owned by insiders.

Phillips 66 Price Performance

NYSE PSX traded down $1.36 during trading hours on Monday, hitting $131.24. The company had a trading volume of 368,974 shares, compared to its average volume of 2,675,771. The firm has a 50 day simple moving average of $133.18 and a 200 day simple moving average of $140.20. The firm has a market capitalization of $55.64 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 5.75 and a beta of 1.33. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. During the same quarter in the previous year, the company posted $3.87 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. Equities research analysts expect that Phillips 66 will post 7.85 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.51%. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Phillips 66 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.