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

Arvest Investments Inc. grew its position in shares of Phillips 66 (NYSE:PSX) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,475 shares of the oil and gas company’s stock after purchasing an additional 143 shares during the quarter. Arvest Investments Inc.’s holdings in Phillips 66 were worth $966,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Oppenheimer & Co. Inc. raised its stake in Phillips 66 by 10.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock worth $5,349,000 after buying an additional 4,515 shares during the last quarter. Flavin Financial Services Inc. bought a new position in shares of Phillips 66 in the 4th quarter worth about $1,190,000. Everence Capital Management Inc. acquired a new position in shares of Phillips 66 in the 4th quarter valued at about $3,033,000. Donoghue Forlines LLC bought a new stake in shares of Phillips 66 during the 4th quarter valued at about $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 and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Down 0.2 %

Shares of NYSE:PSX opened at $128.78 on Friday. The business’s 50 day moving average is $123.88 and its 200 day moving average is $125.81. Phillips 66 has a 12-month low of $108.91 and a 12-month high of $174.08. The stock has a market cap of $52.50 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 4.84 and a beta of 1.31. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate 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 in the prior year, the business posted $3.09 earnings per share. On average, sell-side analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. Barclays increased their target price on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. StockNews.com downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company upped their price target 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 investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.43.

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.