Angeles Wealth Management LLC Lowers Stock Holdings in Phillips 66 $PSX

Angeles Wealth Management LLC decreased its position in shares of Phillips 66 (NYSE:PSX) by 6.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,011 shares of the oil and gas company’s stock after selling 283 shares during the period. Angeles Wealth Management LLC’s holdings in Phillips 66 were worth $479,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC raised its position in Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 82 shares in the last quarter. von Borstel & Associates Inc. purchased a new stake in Phillips 66 during the first quarter valued at about $27,000. Olde Wealth Management LLC purchased a new position in shares of Phillips 66 in the first quarter worth about $28,000. Smallwood Wealth Investment Management LLC purchased a new position in shares of Phillips 66 in the first quarter worth about $29,000. Finally, Pinpoint Asset Management Ltd purchased a new position in shares of Phillips 66 in the first quarter worth about $29,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insiders Place Their Bets

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the transaction, the executive vice president owned 34,587 shares in the company, valued at approximately $4,842,180. This represents a 11.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory Hayes bought 8,350 shares of Phillips 66 stock in a transaction on Thursday, August 14th. The shares were purchased at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the acquisition, the director directly owned 29,423 shares in the company, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 9,850 shares of company stock worth $1,188,910 in the last quarter. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Stock Up 0.7%

Shares of NYSE:PSX opened at $129.21 on Friday. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $142.35. The company has a market cap of $52.22 billion, a PE ratio of 31.06, a P/E/G ratio of 1.78 and a beta of 1.11. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The stock’s 50-day moving average is $130.43 and its 200 day moving average is $120.81.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The company had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. During the same quarter in the previous year, the business earned $2.31 EPS. Sell-side analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, November 17th. Phillips 66’s payout ratio is currently 115.38%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PSX shares. UBS Group lifted their price objective on Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Friday, September 26th. Wall Street Zen upgraded Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Piper Sandler lifted their price objective on Phillips 66 from $154.00 to $155.00 and gave the stock a “neutral” rating in a report on Monday, September 29th. Finally, Bank of America downgraded Phillips 66 from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $144.00 to $147.00 in a report on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $141.50.

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.