Rialto Wealth Management LLC Invests $85,000 in Phillips 66 (NYSE:PSX)

Rialto Wealth Management LLC acquired a new stake in Phillips 66 (NYSE:PSX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 744 shares of the oil and gas company’s stock, valued at approximately $85,000.

Other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. lifted its holdings in shares of Phillips 66 by 10.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock valued at $5,349,000 after buying an additional 4,515 shares during the period. Flavin Financial Services Inc. acquired a new stake in Phillips 66 in the fourth quarter valued at $1,190,000. Everence Capital Management Inc. acquired a new stake in Phillips 66 in the fourth quarter valued at $3,033,000. Donoghue Forlines LLC purchased a new stake in shares of Phillips 66 during the 4th quarter worth $1,438,000. Finally, Mizuho Securities USA LLC grew its stake in shares of Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after purchasing an additional 2,467,316 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 3.0 %

Shares of NYSE PSX opened at $126.51 on Friday. The firm has a market cap of $51.58 billion, a P/E ratio of 25.61, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. 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 has a 1 year low of $108.91 and a 1 year high of $174.08. The firm’s 50 day moving average price is $121.76 and its 200 day moving average price is $126.31.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data 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 period last year, the firm posted $3.09 EPS. As a group, sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.64%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is 93.12%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Barclays reduced their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company 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 note on Monday, February 3rd. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Finally, Mizuho decreased their target price 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

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.