Tradition Wealth Management LLC Has $269,000 Stock Holdings in Phillips 66 (NYSE:PSX)

Tradition Wealth Management LLC decreased its stake in Phillips 66 (NYSE:PSX) by 12.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,048 shares of the oil and gas company’s stock after selling 301 shares during the period. Tradition Wealth Management LLC’s holdings in Phillips 66 were worth $269,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new stake in shares of Phillips 66 during the third quarter worth about $26,000. Values First Advisors Inc. bought a new stake in Phillips 66 during the 3rd quarter worth approximately $30,000. Opal Wealth Advisors LLC acquired a new position in Phillips 66 in the 2nd quarter valued at approximately $34,000. Fortitude Family Office LLC raised its stake in shares of Phillips 66 by 52.3% during the second quarter. Fortitude Family Office LLC now owns 265 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 91 shares during the last quarter. Finally, Kings Path Partners LLC acquired a new position in shares of Phillips 66 during the second quarter worth $38,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $136.43 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The firm has a market cap of $56.34 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 4.37 and a beta of 1.33. Phillips 66 has a 52-week low of $119.77 and a 52-week high of $174.08. The business’s fifty day moving average is $130.68 and its 200 day moving average is $134.84.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same period in the prior year, the company earned $4.63 EPS. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. Research analysts predict that Phillips 66 will post 7.66 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were paid a $1.15 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.37%. Phillips 66’s dividend payout ratio is presently 59.05%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PSX shares. Bank of America initiated coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. Barclays reduced their target price on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. TD Cowen lowered their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. UBS Group cut their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Piper Sandler set a $144.00 target price on shares of Phillips 66 in a research note on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $149.69.

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.