Arete Wealth Advisors LLC Purchases 310 Shares of Phillips 66 (NYSE:PSX)

Arete Wealth Advisors LLC boosted its stake in shares of Phillips 66 (NYSE:PSX) by 11.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,051 shares of the oil and gas company’s stock after buying an additional 310 shares during the period. Arete Wealth Advisors LLC’s holdings in Phillips 66 were worth $348,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Morse Asset Management Inc acquired a new stake in shares of Phillips 66 in the third quarter valued at approximately $493,000. Quantinno Capital Management LP lifted its position in Phillips 66 by 35.5% during the third quarter. Quantinno Capital Management LP now owns 26,098 shares of the oil and gas company’s stock worth $3,431,000 after acquiring an additional 6,841 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its stake in Phillips 66 by 53.2% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 37,200 shares of the oil and gas company’s stock valued at $4,890,000 after purchasing an additional 12,925 shares during the period. EP Wealth Advisors LLC boosted its position in shares of Phillips 66 by 39.8% in the third quarter. EP Wealth Advisors LLC now owns 11,445 shares of the oil and gas company’s stock valued at $1,504,000 after acquiring an additional 3,261 shares during the period. Finally, iA Global Asset Management Inc. acquired a new position in shares of Phillips 66 during the 3rd quarter worth approximately $407,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Down 8.0 %

Shares of NYSE PSX opened at $98.65 on Monday. Phillips 66 has a 1 year low of $95.67 and a 1 year high of $171.41. The stock has a market capitalization of $40.22 billion, a P/E ratio of 19.97, a P/E/G ratio of 4.84 and a beta of 1.17. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company has a 50-day moving average price of $124.24 and a 200-day moving average price of $125.09.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 in the prior year, the firm earned $3.09 EPS. On average, equities research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a $1.15 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 4.66%. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PSX shares. Wells Fargo & Company raised their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Barclays lifted their target price on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Finally, Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $146.43.

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.