Moss Adams Wealth Advisors LLC Boosts Stock Holdings in Phillips 66 (NYSE:PSX)

Moss Adams Wealth Advisors LLC boosted its position in Phillips 66 (NYSE:PSX) by 21.5% in the 1st quarter, Holdings Channel reports. The firm owned 2,365 shares of the oil and gas company’s stock after acquiring an additional 419 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Phillips 66 were worth $292,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PSX. Price T Rowe Associates Inc. MD boosted its stake in Phillips 66 by 283.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock worth $686,618,000 after buying an additional 4,455,220 shares during the last quarter. Norges Bank purchased a new position in shares of Phillips 66 during the 4th quarter worth $497,648,000. Raymond James Financial Inc. acquired a new position in shares of Phillips 66 during the 4th quarter valued at about $168,790,000. Capitolis Liquid Global Markets LLC purchased a new stake in shares of Phillips 66 in the fourth quarter valued at about $142,185,000. Finally, GAMMA Investing LLC grew its holdings in shares of Phillips 66 by 14,119.5% in the first quarter. GAMMA Investing LLC now owns 1,189,606 shares of the oil and gas company’s stock valued at $146,893,000 after purchasing an additional 1,181,240 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of analyst reports. The Goldman Sachs Group downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price on the stock. in a research note on Thursday, March 27th. Raymond James reduced their price target on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Wells Fargo & Company decreased their price objective on Phillips 66 from $162.00 to $149.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Mizuho raised their target price on Phillips 66 from $132.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 13th. Finally, Barclays lifted their target price on Phillips 66 from $106.00 to $115.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.62.

Insiders Place Their Bets

In related news, Director Robert W. Pease acquired 439 shares of the stock in a transaction dated Thursday, May 22nd. The stock was acquired at an average cost of $113.85 per share, with a total value of $49,980.15. Following the completion of the transaction, the director now owns 4,091 shares in the company, valued at $465,760.35. This represents a 12.02% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is owned by company insiders.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $116.09 on Tuesday. The business has a 50-day moving average of $108.06 and a 200 day moving average of $117.71. 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 12 month low of $91.01 and a 12 month high of $150.12. The stock has a market capitalization of $47.30 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 4.84 and a beta of 1.02.

Phillips 66 (NYSE:PSX) last posted its quarterly 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). The business had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. 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 $1.90 EPS. As a group, sell-side analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 4.13%. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date was Monday, May 19th. Phillips 66’s payout ratio is presently 109.34%.

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.