Argonautica Private Wealth Management Inc. Sells 86 Shares of Phillips 66 (NYSE:PSX)

Argonautica Private Wealth Management Inc. lessened its position in Phillips 66 (NYSE:PSX) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,883 shares of the oil and gas company’s stock after selling 86 shares during the period. Argonautica Private Wealth Management Inc.’s holdings in Phillips 66 were worth $2,265,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp grew its holdings in Phillips 66 by 263.3% during the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after purchasing an additional 60,355 shares during the period. Flavin Financial Services Inc. bought a new position in shares of Phillips 66 during the 4th quarter worth approximately $1,190,000. Everence Capital Management Inc. bought a new position in shares of Phillips 66 during the 4th quarter worth approximately $3,033,000. Donoghue Forlines LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $1,438,000. Finally, Mizuho Securities USA LLC raised its stake in Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after acquiring an additional 2,467,316 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PSX. StockNews.com raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a research report on Saturday. UBS Group reduced their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Wells Fargo & Company increased their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, Barclays lowered their target price on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Stock Performance

PSX opened at $126.21 on Wednesday. The business’s fifty day moving average is $119.60 and its 200-day moving average is $126.91. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08. The firm has a market cap of $52.12 billion, a P/E ratio of 25.55, a price-to-earnings-growth ratio of 4.84 and a beta of 1.37. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) 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 last year, the company earned $3.09 EPS. Sell-side analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 3.64%. Phillips 66’s payout ratio is 93.12%.

Phillips 66 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.