Argentarii LLC Acquires New Position in Phillips 66 (NYSE:PSX)

Argentarii LLC acquired a new stake in shares of Phillips 66 (NYSE:PSX) during the 4th quarter, Holdings Channel reports. The fund acquired 1,843 shares of the oil and gas company’s stock, valued at approximately $210,000.

Several other institutional investors and hedge funds have also modified their holdings of PSX. NewEdge Wealth LLC raised its stake in Phillips 66 by 0.5% during the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock worth $1,732,000 after purchasing an additional 81 shares during the period. JBR Co Financial Management Inc raised its stake in Phillips 66 by 0.9% during the fourth quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company’s stock worth $1,085,000 after purchasing an additional 85 shares during the period. Nwam LLC raised its stake in Phillips 66 by 2.2% during the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock worth $442,000 after purchasing an additional 85 shares during the period. Webster Bank N. A. raised its stake in Phillips 66 by 48.4% during the fourth 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 period. Finally, PFG Private Wealth Management LLC raised its stake in Phillips 66 by 7.7% during the fourth quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company’s stock worth $140,000 after purchasing an additional 88 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Barclays cut their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Mizuho dropped their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Finally, Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research report on Friday, January 3rd. One investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Price Performance

PSX opened at $126.51 on Monday. The company has a fifty day simple moving average of $121.76 and a 200 day simple moving average of $126.25. The firm has a market cap of $51.58 billion, a price-to-earnings ratio of 25.61, a PEG ratio of 4.84 and a beta of 1.31. Phillips 66 has a twelve month low of $108.91 and a twelve month high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter last year, the business earned $3.09 EPS. Equities research analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date was Monday, February 24th. Phillips 66’s payout ratio is 93.12%.

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.