B. Riley Wealth Advisors Inc. Sells 2,337 Shares of Phillips 66 (NYSE:PSX)

B. Riley Wealth Advisors Inc. lessened its stake in Phillips 66 (NYSE:PSX - Free Report) by 11.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,968 shares of the oil and gas company's stock after selling 2,337 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Phillips 66 were worth $2,047,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PSX. Bogart Wealth LLC boosted its stake in shares of Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 120 shares during the period. J.Safra Asset Management Corp purchased a new stake in Phillips 66 during the 4th quarter valued at $25,000. Pacific Center for Financial Services bought a new stake in Phillips 66 in the 4th quarter worth $27,000. Stephens Consulting LLC grew its holdings in Phillips 66 by 83.5% in the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock worth $28,000 after acquiring an additional 111 shares during the last quarter. Finally, Graney & King LLC purchased a new position in shares of Phillips 66 in the fourth quarter valued at about $28,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Raymond James cut their target price on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. UBS Group cut their price objective on Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. JPMorgan Chase & Co. reduced their target price on Phillips 66 from $138.00 to $131.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 29th. TD Cowen raised their target price on shares of Phillips 66 from $114.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Finally, Scotiabank dropped their price target on Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $137.86.

Phillips 66 Stock Up 1.8%

Shares of Phillips 66 stock traded up $2.03 on Thursday, reaching $114.80. The company's stock had a trading volume of 2,609,889 shares, compared to its average volume of 3,002,778. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12. The company has a market capitalization of $46.77 billion, a price-to-earnings ratio of 23.24, a P/E/G ratio of 4.84 and a beta of 1.01. The firm's fifty day simple moving average is $109.74 and its two-hundred day simple moving average is $118.78.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). The company had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period last year, the firm posted $1.90 EPS. Equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a $1.20 dividend. This is an increase from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date is Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.18%. Phillips 66's dividend payout ratio (DPR) is presently 109.34%.

Insider Buying and Selling at Phillips 66

In other news, Director Robert W. Pease bought 439 shares of the stock in a transaction dated Thursday, May 22nd. The stock was purchased at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the transaction, the director now owns 4,091 shares of the company's stock, valued at $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.22% of the stock is owned by corporate insiders.

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.