Avidian Wealth Enterprises LLC Has $983,000 Holdings in Phillips 66 (NYSE:PSX)

Avidian Wealth Enterprises LLC grew its position in Phillips 66 (NYSE:PSX) by 7.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,631 shares of the oil and gas company’s stock after purchasing an additional 592 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Phillips 66 were worth $983,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Krane Funds Advisors LLC increased its position in Phillips 66 by 3.6% in the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 82 shares during the last quarter. Webster Bank N. A. increased its position in Phillips 66 by 48.4% in the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 88 shares during the last quarter. Cobblestone Capital Advisors LLC NY increased its position in Phillips 66 by 0.5% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock worth $2,307,000 after purchasing an additional 89 shares during the last quarter. Western Financial Corp CA increased its position in Phillips 66 by 1.6% in the 3rd quarter. Western Financial Corp CA now owns 5,882 shares of the oil and gas company’s stock worth $773,000 after purchasing an additional 91 shares during the last quarter. Finally, Avestar Capital LLC increased its holdings in shares of Phillips 66 by 5.1% during the 3rd quarter. Avestar Capital LLC now owns 1,885 shares of the oil and gas company’s stock valued at $248,000 after acquiring an additional 92 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Down 3.5 %

NYSE PSX opened at $125.05 on Thursday. The stock has a fifty day moving average of $118.94 and a 200-day moving average of $127.57. The stock has a market capitalization of $51.64 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37. Phillips 66 has a 52 week low of $108.90 and a 52 week high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period last year, the firm earned $3.09 earnings per share. On average, equities research analysts forecast that Phillips 66 will post 7.14 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.68%. Phillips 66’s dividend payout ratio is currently 93.12%.

Analysts Set New Price Targets

PSX has been the topic of a number of analyst reports. Barclays lowered their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. UBS Group lowered their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Bank of America initiated coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective on the stock. Finally, Mizuho lowered their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 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.