Angeles Wealth Management LLC Has $296,000 Stock Position in Phillips 66 (NYSE:PSX)

Angeles Wealth Management LLC lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 6.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,107 shares of the oil and gas company’s stock after purchasing an additional 199 shares during the period. Angeles Wealth Management LLC’s holdings in Phillips 66 were worth $296,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Country Trust Bank raised its position in shares of Phillips 66 by 1,315.8% during the second quarter. Country Trust Bank now owns 269 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 250 shares during the last quarter. Fiduciary Alliance LLC bought a new stake in shares of Phillips 66 in the 2nd quarter valued at $30,000. Oliver Lagore Vanvalin Investment Group raised its stake in Phillips 66 by 504.0% during the first quarter. Oliver Lagore Vanvalin Investment Group now owns 302 shares of the oil and gas company’s stock worth $31,000 after buying an additional 252 shares during the last quarter. Worth Asset Management LLC bought a new position in Phillips 66 during the first quarter worth $32,000. Finally, Achmea Investment Management B.V. bought a new stake in Phillips 66 during the first quarter valued at $40,000. Institutional investors own 71.83% of the company’s stock.

Insiders Place Their Bets

In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,000 shares of Phillips 66 stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $117.02, for a total transaction of $819,140.00. Following the transaction, the vice president now owns 6,682 shares of the company’s stock, valued at approximately $781,927.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Timothy D. Roberts sold 12,970 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $124.41, for a total transaction of $1,613,597.70. Following the completion of the transaction, the executive vice president now owns 80,009 shares in the company, valued at $9,953,919.69. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Joseph Scott Pruitt sold 7,000 shares of Phillips 66 stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $117.02, for a total transaction of $819,140.00. Following the completion of the sale, the vice president now directly owns 6,682 shares in the company, valued at approximately $781,927.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,770 shares of company stock valued at $6,158,614. Corporate insiders own 4.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PSX. Piper Sandler dropped their price objective on Phillips 66 from $138.00 to $134.00 and set an “overweight” rating on the stock in a research note on Thursday, October 5th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $146.00 price objective for the company in a research note on Tuesday, October 31st. Argus increased their target price on shares of Phillips 66 from $125.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. Tudor, Pickering, Holt & Co. raised shares of Phillips 66 from a “hold” rating to a “buy” rating and lifted their price target for the company from $115.00 to $130.00 in a research note on Monday, October 30th. Finally, StockNews.com initiated coverage on shares of Phillips 66 in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.50.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $116.37 on Friday. The company has a market cap of $51.20 billion, a PE ratio of 7.02, a price-to-earnings-growth ratio of 0.39 and a beta of 1.34. The company has a quick ratio of 0.96, a current ratio of 1.29 and a debt-to-equity ratio of 0.58. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $125.19. The business has a 50 day moving average price of $115.72 and a 200-day moving average price of $107.20.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, October 27th. The oil and gas company reported $4.63 earnings per share for the quarter, missing the consensus estimate of $4.78 by ($0.15). Phillips 66 had a net margin of 5.05% and a return on equity of 23.32%. During the same period in the prior year, the firm earned $6.46 EPS. Equities analysts anticipate that Phillips 66 will post 15.45 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 3.61%. The ex-dividend date is Thursday, November 16th. Phillips 66’s dividend payout ratio (DPR) is presently 25.33%.

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.