Cwm LLC Has $4.67 Million Stock Holdings in Phillips 66 (NYSE:PSX)

CWM LLC raised its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 22.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,800 shares of the oil and gas company's stock after acquiring an additional 6,951 shares during the quarter. CWM LLC's holdings in Phillips 66 were worth $4,668,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Arizona State Retirement System grew its holdings in Phillips 66 by 1.1% in the first quarter. Arizona State Retirement System now owns 121,201 shares of the oil and gas company's stock valued at $14,966,000 after purchasing an additional 1,274 shares during the period. Ballentine Partners LLC lifted its position in shares of Phillips 66 by 18.2% during the first quarter. Ballentine Partners LLC now owns 3,592 shares of the oil and gas company's stock worth $444,000 after purchasing an additional 552 shares in the last quarter. Beirne Wealth Consulting Services LLC acquired a new position in shares of Phillips 66 during the first quarter worth $210,000. Fulcrum Equity Management lifted its position in shares of Phillips 66 by 6.5% during the first quarter. Fulcrum Equity Management now owns 2,439 shares of the oil and gas company's stock worth $301,000 after purchasing an additional 149 shares in the last quarter. Finally, Stegent Equity Advisors Inc. lifted its position in shares of Phillips 66 by 45.3% during the first quarter. Stegent Equity Advisors Inc. now owns 8,185 shares of the oil and gas company's stock worth $1,011,000 after purchasing an additional 2,553 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Stock Up 0.7%

Shares of PSX traded up $0.85 during trading hours on Friday, reaching $126.03. The company's stock had a trading volume of 3,256,697 shares, compared to its average volume of 3,134,375. The firm has a market cap of $51.35 billion, a price-to-earnings ratio of 28.71, a P/E/G ratio of 1.96 and a beta of 1.02. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average of $121.35 and a two-hundred day moving average of $118.21.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data 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). Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. The firm had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. During the same quarter in the prior year, the company posted $1.90 EPS. As a group, research analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be given a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.81%. Phillips 66's dividend payout ratio is 109.34%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Citigroup cut shares of Phillips 66 from a "buy" rating to a "neutral" rating and upped their price target for the company from $126.00 to $130.00 in a report on Wednesday. UBS Group lowered their target price on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Piper Sandler set a $148.00 target price on shares of Phillips 66 and gave the company a "neutral" rating in a research note on Thursday, July 10th. Compass Point assumed coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They set a "buy" rating for the company. Finally, Wall Street Zen upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $135.27.

Insider Activity

In related news, EVP Brian Mandell sold 9,800 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total value of $1,225,000.00. Following the completion of the transaction, the executive vice president directly owned 56,838 shares of the company's stock, valued at $7,104,750. This trade represents a 14.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total value of $571,090.00. Following the completion of the transaction, the executive vice president directly owned 43,373 shares of the company's stock, valued at approximately $5,638,490. This trade represents a 9.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.22% of the stock is owned by company insiders.

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.