Arete Wealth Advisors LLC Acquires Shares of 2,741 Phillips 66 (NYSE:PSX)

Arete Wealth Advisors LLC acquired a new stake in Phillips 66 (NYSE:PSX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,741 shares of the oil and gas company’s stock, valued at approximately $359,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Catalyst Financial Partners LLC lifted its position in shares of Phillips 66 by 5.1% in the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock valued at $214,000 after acquiring an additional 74 shares in the last quarter. Advisory Alpha LLC lifted its position in shares of Phillips 66 by 4.8% in the second quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock valued at $233,000 after acquiring an additional 76 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of Phillips 66 by 1.8% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,363 shares of the oil and gas company’s stock valued at $616,000 after acquiring an additional 77 shares in the last quarter. Krane Funds Advisors LLC lifted its position in Phillips 66 by 3.6% during the third quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock worth $309,000 after buying an additional 82 shares in the last quarter. Finally, Richwood Investment Advisors LLC lifted its position in Phillips 66 by 1.9% during the third quarter. Richwood Investment Advisors LLC now owns 4,580 shares of the oil and gas company’s stock worth $602,000 after buying an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 1.0 %

Shares of NYSE PSX opened at $122.72 on Friday. Phillips 66 has a twelve month low of $119.77 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. The stock has a fifty day simple moving average of $129.86 and a 200-day simple moving average of $133.91. The stock has a market capitalization of $50.68 billion, a PE ratio of 15.75, a PEG ratio of 4.14 and a beta of 1.35.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $36.31 billion. During the same period in the previous year, the firm posted $4.63 earnings per share. The company’s revenue was down 10.3% on a year-over-year basis. On average, equities analysts forecast that Phillips 66 will post 7.56 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were paid a $1.15 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.75%. Phillips 66’s payout ratio is presently 59.05%.

Wall Street Analyst Weigh In

PSX has been the topic of a number of analyst reports. Barclays reduced their price objective on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Scotiabank reduced their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. JPMorgan Chase & Co. reduced their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Morgan Stanley reduced their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Finally, UBS Group reduced their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $149.23.

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.