U.S. Capital Wealth Advisors LLC Buys 6,757 Shares of Phillips 66 $PSX

Key Points

• U.S. Capital Wealth Advisors LLC increased its stake in Phillips 66 (PSX) by 36.1%, buying 6,757 shares to hold 25,484 shares worth about $3.29 million at the end of the quarter.
• Several analysts have raised price targets (e.g., Wolfe to $193, UBS to $212), but the consensus remains an average "Hold" rating with a mean price target of $180.72.
• Phillips 66 beat quarterly EPS estimates ($2.47 vs. $2.15) and recently raised its quarterly dividend to $1.27 (annualized $5.08), yielding about 3.2%.

U.S. Capital Wealth Advisors LLC grew its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 36.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,484 shares of the oil and gas company's stock after purchasing an additional 6,757 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in Phillips 66 were worth $3,289,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PSX. Evolution Wealth Management Inc. bought a new position in shares of Phillips 66 in the 2nd quarter valued at about $25,000. Board of the Pension Protection Fund bought a new stake in shares of Phillips 66 in the 4th quarter valued at about $26,000. Accordant Advisory Group Inc lifted its stake in Phillips 66 by 900.0% in the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company's stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. Stephens Consulting LLC grew its holdings in Phillips 66 by 67.7% during the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company's stock worth $29,000 after purchasing an additional 90 shares during the period. Finally, Dorato Capital Management bought a new position in Phillips 66 during the fourth quarter worth about $35,000. 76.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PSX. Wolfe Research upped their price objective on Phillips 66 from $187.00 to $193.00 and gave the company an "outperform" rating in a research note on Monday, April 6th. Piper Sandler boosted their target price on Phillips 66 from $168.00 to $177.00 and gave the stock a "neutral" rating in a report on Wednesday, April 8th. Morgan Stanley increased their price target on Phillips 66 from $140.00 to $147.00 and gave the company an "equal weight" rating in a research note on Thursday, February 5th. The Goldman Sachs Group upped their price objective on shares of Phillips 66 from $186.00 to $192.00 and gave the company a "neutral" rating in a report on Friday. Finally, UBS Group lifted their target price on shares of Phillips 66 from $172.00 to $212.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. Eleven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $180.72.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $158.40 on Tuesday. Phillips 66 has a 12-month low of $95.70 and a 12-month high of $190.61. The company's 50 day moving average price is $166.03 and its two-hundred day moving average price is $146.52. The firm has a market cap of $63.48 billion, a PE ratio of 14.76, a PEG ratio of 0.28 and a beta of 0.76. The company has a quick ratio of 0.91, a current ratio of 1.30 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.32. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.The business had revenue of $32.16 billion during the quarter, compared to analysts' expectations of $33.81 billion. During the same period in the previous year, the company posted ($0.15) earnings per share. Equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 3.2%. This is a boost from Phillips 66's previous quarterly dividend of $1.20. The ex-dividend date of this dividend was Monday, February 23rd. Phillips 66's payout ratio is presently 46.95%.

Insider Activity

In other news, EVP Brian Mandell sold 42,800 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $169.53, for a total value of $7,255,884.00. Following the completion of the transaction, the executive vice president directly owned 61,595 shares in the company, valued at approximately $10,442,200.35. This represents a 41.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kevin Omar Meyers purchased 175 shares of the business's stock in a transaction dated Tuesday, March 17th. The shares were purchased at an average cost of $173.20 per share, for a total transaction of $30,310.00. Following the completion of the purchase, the director directly owned 16,624 shares of the company's stock, valued at approximately $2,879,276.80. This represents a 1.06% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders sold 95,923 shares of company stock valued at $16,399,619. Company insiders own 0.40% of the company's stock.

About Phillips 66

Phillips 66 NYSE: PSX is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company's principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.

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