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

Western Wealth Management LLC reduced its holdings in Phillips 66 (NYSE:PSX - Free Report) by 29.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,194 shares of the oil and gas company's stock after selling 4,186 shares during the period. Western Wealth Management LLC's holdings in Phillips 66 were worth $1,161,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PSX. NewEdge Wealth LLC lifted its position in Phillips 66 by 0.5% during the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company's stock valued at $1,732,000 after purchasing an additional 81 shares during the last quarter. JBR Co Financial Management Inc increased its holdings in Phillips 66 by 0.9% during the fourth quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company's stock valued at $1,085,000 after buying an additional 85 shares during the period. Nwam LLC grew its holdings in Phillips 66 by 2.2% in the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company's stock worth $442,000 after purchasing an additional 85 shares during the last quarter. Webster Bank N. A. grew its holdings in Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 88 shares during the last quarter. Finally, PFG Private Wealth Management LLC lifted its stake in shares of Phillips 66 by 7.7% during the fourth quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company's stock worth $140,000 after buying an additional 88 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on PSX. Scotiabank decreased their price objective on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. 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. Morgan Stanley dropped their price target 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. Wall Street Zen raised shares of Phillips 66 from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Finally, UBS Group reduced their target price on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $137.86.

Phillips 66 Stock Performance

Shares of PSX stock traded up $1.15 during trading hours on Tuesday, reaching $114.28. The stock had a trading volume of 2,832,562 shares, compared to its average volume of 3,002,683. The firm has a 50-day simple moving average of $110.28 and a 200-day simple moving average of $118.86. The firm has a market capitalization of $46.56 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS 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 analyst estimates of $31.93 billion. During the same quarter in the previous year, the business earned $1.90 earnings per share. As a group, equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current 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 is a boost from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.20%. Phillips 66's dividend payout ratio (DPR) is presently 109.34%.

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.