Avidian Wealth Enterprises LLC Acquires 592 Shares of Phillips 66 (NYSE:PSX)

Avidian Wealth Enterprises LLC grew its position in Phillips 66 (NYSE:PSX) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,631 shares of the oil and gas company’s stock after purchasing an additional 592 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Phillips 66 were worth $983,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. nVerses Capital LLC acquired a new stake in shares of Phillips 66 in the third quarter valued at about $26,000. Stephens Consulting LLC increased its position in shares of Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 111 shares during the last quarter. Values First Advisors Inc. acquired a new stake in shares of Phillips 66 in the third quarter valued at about $30,000. Webster Bank N. A. increased its position in shares of Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 88 shares during the last quarter. Finally, YANKCOM Partnership acquired a new stake in shares of Phillips 66 in the fourth quarter valued at about $31,000. 76.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PSX. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research report on Wednesday, February 5th. Barclays lowered their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company boosted their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Mizuho lowered their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Finally, Bank of America initiated coverage on Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target on the stock. 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $125.05 on Thursday. The firm has a market cap of $51.64 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08. The business’s 50 day moving average is $118.94 and its 200-day moving average is $127.57.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 period in the prior year, the business posted $3.09 EPS. Equities research analysts predict that Phillips 66 will post 7.14 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.68%. Phillips 66’s dividend 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.