CWA Asset Management Group LLC Has $515,000 Stake in Phillips 66 (NYSE:PSX)

CWA Asset Management Group LLC increased its stake in shares of Phillips 66 (NYSE:PSX – Get Rating) by 17.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,948 shares of the oil and gas company’s stock after acquiring an additional 725 shares during the period. CWA Asset Management Group LLC’s holdings in Phillips 66 were worth $515,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Hallmark Capital Management Inc. increased its holdings in shares of Phillips 66 by 62.5% during the 3rd quarter. Hallmark Capital Management Inc. now owns 325 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 125 shares during the last quarter. Horan Securities Inc. boosted its stake in Phillips 66 by 210.6% during the 3rd quarter. Horan Securities Inc. now owns 351 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 238 shares during the period. Align Wealth Management LLC bought a new stake in Phillips 66 during the 4th quarter valued at approximately $28,000. Core Alternative Capital boosted its stake in Phillips 66 by 218.3% during the 3rd quarter. Core Alternative Capital now owns 366 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 251 shares during the period. Finally, Worth Asset Management LLC bought a new stake in Phillips 66 during the 1st quarter valued at approximately $32,000. Institutional investors and hedge funds own 70.76% of the company’s stock.

Insider Activity at Phillips 66

In other Phillips 66 news, Director Gregory Hayes purchased 10,250 shares of the company’s stock in a transaction that occurred on Thursday, February 2nd. The stock was purchased at an average cost of $97.75 per share, with a total value of $1,001,937.50. Following the acquisition, the director now directly owns 14,299 shares of the company’s stock, valued at approximately $1,397,727.25. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PSX. Piper Sandler decreased their target price on Phillips 66 from $155.00 to $137.00 and set an “overweight” rating for the company in a research note on Monday, December 19th. Royal Bank of Canada increased their target price on Phillips 66 from $130.00 to $132.00 and gave the company an “outperform” rating in a research note on Wednesday, February 8th. Morgan Stanley increased their target price on Phillips 66 from $115.00 to $125.00 and gave the company an “equal weight” rating in a research note on Friday, January 20th. Wells Fargo & Company decreased their target price on Phillips 66 from $134.00 to $127.00 and set an “overweight” rating for the company in a research note on Thursday, January 5th. Finally, StockNews.com initiated coverage on Phillips 66 in a research report on Thursday. They issued a “buy” rating for the company. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $121.27.

Phillips 66 Price Performance

Phillips 66 stock opened at $94.72 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.38 and a quick ratio of 1.17. The company has a market capitalization of $43.94 billion, a PE ratio of 4.13, a price-to-earnings-growth ratio of 0.32 and a beta of 1.37. Phillips 66 has a one year low of $74.02 and a one year high of $113.53. The business has a 50 day simple moving average of $102.53 and a 200 day simple moving average of $99.45.

Phillips 66 (NYSE:PSX – Get Rating) last posted its earnings results on Tuesday, January 31st. The oil and gas company reported $4.00 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.35). The company had revenue of $40.91 billion for the quarter, compared to the consensus estimate of $34.30 billion. Phillips 66 had a return on equity of 31.20% and a net margin of 6.27%. During the same quarter last year, the business earned $2.94 EPS. On average, sell-side analysts forecast that Phillips 66 will post 15.68 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Tuesday, February 21st were given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 4.43%. The ex-dividend date was Friday, February 17th. This is an increase from Phillips 66’s previous quarterly dividend of $0.97. Phillips 66’s dividend payout ratio (DPR) is 18.30%.

Phillips 66 Profile

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Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.