Arvest Investments Inc. Purchases 143 Shares of Phillips 66 (NYSE:PSX)

Arvest Investments Inc. raised its position in Phillips 66 (NYSE:PSX) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,475 shares of the oil and gas company’s stock after buying an additional 143 shares during the quarter. Arvest Investments Inc.’s holdings in Phillips 66 were worth $966,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. grew its stake in shares of Phillips 66 by 10.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock valued at $5,349,000 after acquiring an additional 4,515 shares in the last quarter. Flavin Financial Services Inc. bought a new position in shares of Phillips 66 during the fourth quarter worth approximately $1,190,000. Everence Capital Management Inc. bought a new position in shares of Phillips 66 during the fourth quarter worth approximately $3,033,000. Donoghue Forlines LLC acquired a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $1,438,000. Finally, Smith Group Asset Management LLC acquired a new stake in Phillips 66 during the fourth quarter worth approximately $1,149,000. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of a number of recent analyst reports. Mizuho cut their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research report on Friday, January 3rd. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Finally, Wells Fargo & Company upped their target price on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $149.43.

Phillips 66 Price Performance

Phillips 66 stock opened at $128.78 on Friday. 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 company has a market capitalization of $52.50 billion, a PE ratio of 26.07, a P/E/G ratio of 4.84 and a beta of 1.31. Phillips 66 has a 12 month low of $108.91 and a 12 month high of $174.08. The stock has a 50-day moving average price of $123.88 and a two-hundred day moving average price of $125.81.

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 (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 earnings per share. Analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.57%. The ex-dividend date was Monday, February 24th. Phillips 66’s payout ratio is currently 93.12%.

About Phillips 66

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.