Phillips 66 (NYSE:PSX) Shares Bought by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 11.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in PSX. Norges Bank bought a new position in shares of Phillips 66 during the fourth quarter worth about $497,648,000. Raymond James Financial Inc. bought a new position in shares of Phillips 66 in the fourth quarter valued at $168,790,000. Amundi lifted its holdings in shares of Phillips 66 by 25.7% during the fourth quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock valued at $428,081,000 after purchasing an additional 753,653 shares during the last quarter. National Bank of Canada FI lifted its stake in Phillips 66 by 166.7% during the fourth quarter. National Bank of Canada FI now owns 1,134,582 shares of the oil and gas company’s stock valued at $129,266,000 after buying an additional 709,219 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Phillips 66 by 7.3% in the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after purchasing an additional 639,323 shares during the period. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Performance

NYSE PSX opened at $98.65 on Monday. 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 firm has a market cap of $40.22 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 4.84 and a beta of 1.17. The company has a 50 day moving average of $124.24 and a 200-day moving average of $125.09. Phillips 66 has a 1-year low of $95.67 and a 1-year high of $171.41.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter last year, the business earned $3.09 EPS. On average, equities analysts forecast 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 paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is 93.12%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Barclays increased their price objective on Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. The Goldman Sachs Group lowered Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price on the stock. in a report on Thursday, March 27th. StockNews.com downgraded 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, Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $146.43.

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.