Riverbend Wealth Management LLC Purchases Shares of 3,138 Phillips 66 (NYSE:PSX)

Riverbend Wealth Management LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,138 shares of the oil and gas company’s stock, valued at approximately $360,000.

A number of other hedge funds also recently modified their holdings of PSX. Davis R M Inc. increased its holdings in Phillips 66 by 0.3% in the fourth quarter. Davis R M Inc. now owns 349,416 shares of the oil and gas company’s stock valued at $39,809,000 after purchasing an additional 956 shares during the period. Tortoise Investment Management LLC grew its position in shares of Phillips 66 by 16.1% in the 4th quarter. Tortoise Investment Management LLC now owns 633 shares of the oil and gas company’s stock valued at $72,000 after buying an additional 88 shares during the last quarter. Independent Advisor Alliance increased its stake in shares of Phillips 66 by 11.0% in the fourth quarter. Independent Advisor Alliance now owns 27,740 shares of the oil and gas company’s stock valued at $3,160,000 after buying an additional 2,755 shares during the period. Gallagher Capital Advisors LLC bought a new position in shares of Phillips 66 during the fourth quarter worth about $207,000. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Phillips 66 by 10.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 68,752 shares of the oil and gas company’s stock worth $7,833,000 after acquiring an additional 6,492 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.2 %

NYSE PSX opened at $126.41 on Tuesday. Phillips 66 has a 52 week low of $108.91 and a 52 week high of $174.08. The business has a 50 day moving average price of $122.05 and a 200-day moving average price of $126.21. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a market cap of $51.54 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS 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 in the prior year, the business posted $3.09 EPS. As a group, equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PSX shares. Barclays decreased their target price on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Mizuho decreased 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. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a report on Friday, January 3rd. Finally, Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

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.