Independent Solutions Wealth Management LLC Sells 162 Shares of Phillips 66 (NYSE:PSX)

Independent Solutions Wealth Management LLC lowered its stake in Phillips 66 (NYSE:PSX) by 1.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 15,200 shares of the oil and gas company’s stock after selling 162 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Phillips 66 were worth $1,732,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Oppenheimer & Co. Inc. grew its position in shares of Phillips 66 by 10.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock valued at $5,349,000 after purchasing an additional 4,515 shares during the last quarter. Flavin Financial Services Inc. acquired a new position in Phillips 66 in the 4th quarter valued at $1,190,000. Everence Capital Management Inc. bought a new position in Phillips 66 during the 4th quarter worth $3,033,000. Donoghue Forlines LLC acquired a new stake in shares of Phillips 66 during the fourth quarter worth $1,438,000. Finally, Smith Group Asset Management LLC bought a new stake in shares of Phillips 66 in the fourth quarter valued at about $1,149,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Down 0.2 %

Shares of NYSE PSX opened at $128.78 on Friday. The company has a market cap of $52.50 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 4.84 and a beta of 1.31. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12 month low of $108.91 and a 12 month high of $174.08. The stock has a 50-day moving average price of $123.88 and a two-hundred day moving average price of $125.81.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter last year, the firm earned $3.09 EPS. As a group, analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 3.57%. Phillips 66’s dividend payout ratio is currently 93.12%.

Wall Street Analyst Weigh In

PSX has been the topic of a number of recent research reports. Barclays raised their price target on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Mizuho reduced their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Finally, Wells Fargo & Company upped their target price on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $149.43.

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.