B. Riley Wealth Advisors Inc. Acquires New Shares in Phillips 66 $PSX

B. Riley Wealth Advisors Inc. acquired a new position in Phillips 66 (NYSE:PSX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 10,474 shares of the oil and gas company’s stock, valued at approximately $1,250,000.

A number of other hedge funds have also bought and sold shares of PSX. Wolff Wiese Magana LLC grew its stake in shares of Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 82 shares during the period. Webster Bank N. A. boosted its holdings in Phillips 66 by 58.8% in the second quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in Phillips 66 in the 2nd quarter worth approximately $32,000. Nova Wealth Management Inc. purchased a new stake in Phillips 66 during the 1st quarter valued at $37,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in shares of Phillips 66 during the 2nd quarter valued at $38,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

NYSE PSX opened at $141.69 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $144.96. The stock has a market cap of $57.09 billion, a price-to-earnings ratio of 38.71, a PEG ratio of 0.74 and a beta of 0.92. The company’s 50 day moving average is $135.84 and its two-hundred day moving average is $129.66.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. The firm had revenue of $33.69 billion during the quarter, compared to analysts’ expectations of $32.29 billion. Phillips 66 had a net margin of 1.12% and a return on equity of 5.53%. During the same period in the prior year, the company posted $2.04 earnings per share. As a group, research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 3.4%. Phillips 66’s dividend payout ratio (DPR) is currently 131.15%.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $138.00, for a total value of $4,140,000.00. Following the transaction, the chief financial officer directly owned 89,771 shares in the company, valued at $12,388,398. The trade was a 25.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the transaction, the executive vice president directly owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. This trade represents a 11.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 86,093 shares of company stock valued at $11,933,256 over the last ninety days. 0.22% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, October 8th. TD Cowen raised their target price on Phillips 66 from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Wall Street Zen upgraded Phillips 66 from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Bank of America cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $144.00 to $147.00 in a research note on Wednesday, September 3rd. Finally, UBS Group restated a “buy” rating and set a $160.00 target price on shares of Phillips 66 in a research report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $148.35.

About Phillips 66

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.