B. Riley Wealth Advisors Inc. Has $6.24 Million Stock Holdings in Phillips 66 (NYSE:PSX)

B. Riley Wealth Advisors Inc. lifted its position in shares of Phillips 66 (NYSE:PSX) by 15.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,175 shares of the oil and gas company’s stock after buying an additional 5,089 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Phillips 66 were worth $6,236,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Crewe Advisors LLC acquired a new position in Phillips 66 during the first quarter valued at approximately $25,000. Keener Financial Planning LLC acquired a new stake in shares of Phillips 66 during the first quarter valued at about $26,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Phillips 66 during the fourth quarter valued at $27,000. Redmont Wealth Advisors LLC acquired a new position in Phillips 66 during the 1st quarter worth about $28,000. Finally, First United Bank & Trust bought a new stake in Phillips 66 in the fourth quarter valued at approximately $31,000. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PSX. JPMorgan Chase & Co. reduced their price objective on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Raymond James raised their target price on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday. TD Cowen boosted their target price on shares of Phillips 66 from $155.00 to $162.00 and gave the company a “buy” rating in a report on Wednesday. Wolfe Research assumed coverage on shares of Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Piper Sandler decreased their target price on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $157.23.

Insider Buying and Selling

In other news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the sale, the executive vice president now owns 48,365 shares in the company, valued at approximately $7,051,617. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.22% of the stock is owned by insiders.

Phillips 66 Price Performance

PSX stock traded down $1.69 during midday trading on Wednesday, hitting $145.48. The company’s stock had a trading volume of 2,272,642 shares, compared to its average volume of 2,672,963. The firm has a market capitalization of $61.68 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 2.49 and a beta of 1.34. The company has a 50 day moving average of $139.12 and a two-hundred day moving average of $145.76. Phillips 66 has a 12 month low of $107.41 and a 12 month high of $174.08. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The company had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. During the same quarter in the prior year, the firm earned $3.87 earnings per share. Phillips 66’s revenue was up 8.9% on a year-over-year basis. On average, analysts expect that Phillips 66 will post 9.4 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Tuesday, August 20th. Phillips 66’s dividend payout ratio is presently 35.38%.

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.