Arvest Investments Inc. Has $1.18 Million Stake in Phillips 66 (NYSE:PSX)

Arvest Investments Inc. grew its holdings in Phillips 66 (NYSE:PSX) by 86.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,198 shares of the oil and gas company’s stock after acquiring an additional 3,346 shares during the quarter. Arvest Investments Inc.’s holdings in Phillips 66 were worth $1,176,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of PSX. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Phillips 66 in the 4th quarter valued at about $27,000. Redmont Wealth Advisors LLC acquired a new position in shares of Phillips 66 during the 1st quarter worth about $28,000. First United Bank & Trust bought a new position in shares of Phillips 66 in the 4th quarter valued at about $31,000. Signature Resources Capital Management LLC bought a new stake in Phillips 66 during the fourth quarter worth about $33,000. Finally, Bruce G. Allen Investments LLC bought a new stake in shares of Phillips 66 during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Up 0.1 %

Shares of PSX opened at $140.55 on Thursday. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. Phillips 66 has a 12 month low of $94.51 and a 12 month high of $174.08. The firm’s 50 day moving average is $142.22 and its 200-day moving average is $144.98. The stock has a market capitalization of $59.59 billion, a PE ratio of 10.81, a P/E/G ratio of 2.13 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15). The company had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the prior year, the firm earned $4.21 earnings per share. Equities research analysts forecast that Phillips 66 will post 10.99 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the transaction, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Mizuho lowered their price objective on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. The Goldman Sachs Group lifted their target price on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Barclays dropped their price target on Phillips 66 from $147.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Monday. Raymond James cut their target price on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. Finally, Piper Sandler decreased their price target on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $157.07.

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.