BKM Wealth Management LLC Decreases Stock Position in Phillips 66 (NYSE:PSX)

BKM Wealth Management LLC reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 69.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,463 shares of the oil and gas company’s stock after selling 10,300 shares during the quarter. BKM Wealth Management LLC’s holdings in Phillips 66 were worth $587,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brookstone Capital Management boosted its stake in shares of Phillips 66 by 6.7% during the first quarter. Brookstone Capital Management now owns 23,076 shares of the oil and gas company’s stock valued at $3,769,000 after acquiring an additional 1,450 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Phillips 66 by 4.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 122,282 shares of the oil and gas company’s stock worth $19,974,000 after acquiring an additional 4,748 shares during the last quarter. Capital Asset Advisory Services LLC purchased a new stake in Phillips 66 in the 1st quarter worth approximately $271,000. Occidental Asset Management LLC acquired a new position in Phillips 66 in the 1st quarter valued at $204,000. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Phillips 66 by 48.7% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 10,758 shares of the oil and gas company’s stock worth $1,757,000 after purchasing an additional 3,524 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.22% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on PSX. Piper Sandler set a $144.00 price target on Phillips 66 in a report on Thursday, October 17th. Mizuho dropped their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Raymond James lifted their target price on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Barclays cut their price objective on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 8th. Finally, Morgan Stanley decreased their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and a consensus price target of $149.50.

Phillips 66 Stock Down 0.2 %

PSX stock opened at $128.17 on Friday. The firm has a fifty day moving average price of $132.65 and a two-hundred day moving average price of $139.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. Phillips 66 has a 1-year low of $107.85 and a 1-year high of $174.08. The firm has a market cap of $53.65 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 5.61 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. During the same quarter last year, the business posted $3.87 EPS. The business’s revenue was up 8.9% on a year-over-year basis. Research analysts predict that Phillips 66 will post 7.81 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.59%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is 39.45%.

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.