B. Riley Wealth Advisors Inc. Sells 7,983 Shares of Phillips 66 (NYSE:PSX)

B. Riley Wealth Advisors Inc. lessened its position in shares of Phillips 66 (NYSE:PSX) by 28.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,305 shares of the oil and gas company’s stock after selling 7,983 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Phillips 66 were worth $2,712,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Catalyst Financial Partners LLC increased its stake in Phillips 66 by 5.1% during the 2nd quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock valued at $214,000 after purchasing an additional 74 shares in the last quarter. Advisory Alpha LLC increased its stake in Phillips 66 by 4.8% during the 2nd quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock valued at $233,000 after purchasing an additional 76 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its stake in Phillips 66 by 1.8% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,363 shares of the oil and gas company’s stock valued at $616,000 after purchasing an additional 77 shares in the last quarter. Krane Funds Advisors LLC increased its stake in shares of Phillips 66 by 3.6% in the third quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 82 shares during the period. Finally, Richwood Investment Advisors LLC increased its stake in shares of Phillips 66 by 1.9% in the third quarter. Richwood Investment Advisors LLC now owns 4,580 shares of the oil and gas company’s stock worth $602,000 after acquiring an additional 85 shares during the period. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 1.0 %

Shares of Phillips 66 stock opened at $122.72 on Monday. Phillips 66 has a 52-week low of $119.77 and a 52-week high of $174.08. The company has a 50 day moving average of $129.86 and a 200 day moving average of $133.81. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $50.68 billion, a P/E ratio of 15.75, a P/E/G ratio of 4.06 and a beta of 1.35.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.63 EPS. As a group, research analysts forecast that Phillips 66 will post 7.56 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued a $1.15 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.75%. Phillips 66’s payout ratio is 59.05%.

Wall Street Analyst Weigh In

PSX has been the topic of a number of research reports. Bank of America started coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective on the stock. UBS Group reduced their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Mizuho cut their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a research report on Thursday, October 17th. Finally, TD Cowen dropped their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Five investment 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, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.23.

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.