Arista Wealth Management LLC Makes New $484,000 Investment in Phillips 66 $PSX

Arista Wealth Management LLC acquired a new position in shares of Phillips 66 (NYSE:PSX) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,753 shares of the oil and gas company’s stock, valued at approximately $484,000.

Several other hedge funds also recently made changes to their positions in the company. CYBER HORNET ETFs LLC grew its holdings in shares of Phillips 66 by 5.7% during the fourth quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company’s stock worth $158,000 after purchasing an additional 66 shares during the last quarter. GHP Investment Advisors Inc. grew its holdings in shares of Phillips 66 by 2.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock worth $414,000 after purchasing an additional 72 shares during the last quarter. L2 Asset Management LLC grew its holdings in shares of Phillips 66 by 4.0% during the third quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock worth $257,000 after purchasing an additional 72 shares during the last quarter. Mesirow Financial Investment Management Inc. grew its holdings in shares of Phillips 66 by 0.5% during the third quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company’s stock worth $2,130,000 after purchasing an additional 73 shares during the last quarter. Finally, KCM Investment Advisors LLC raised its position in Phillips 66 by 1.6% in the 3rd quarter. KCM Investment Advisors LLC now owns 4,636 shares of the oil and gas company’s stock valued at $631,000 after purchasing an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE PSX opened at $174.60 on Thursday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. Phillips 66 has a 52-week low of $111.19 and a 52-week high of $190.61. The business’s 50-day moving average price is $172.24 and its 200 day moving average price is $154.23. The firm has a market cap of $70.00 billion, a P/E ratio of 17.20, a P/E/G ratio of 0.26 and a beta of 0.70.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same quarter last year, the company posted ($0.90) earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts expect that Phillips 66 will post 17.64 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be given a $1.27 dividend. The ex-dividend date is Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.9%. Phillips 66’s dividend payout ratio (DPR) is presently 50.05%.

Wall Street Analyst Weigh In

Several analysts recently commented on PSX shares. Morgan Stanley reiterated an “overweight” rating and issued a $180.00 price target on shares of Phillips 66 in a research report on Thursday, April 30th. Mizuho set a $212.00 price target on shares of Phillips 66 and gave the company an “outperform” rating in a research report on Wednesday. TD Cowen upped their price target on shares of Phillips 66 from $155.00 to $213.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. Tudor Pickering raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Finally, Jefferies Financial Group raised their price target on Phillips 66 from $173.00 to $191.00 and gave the stock a “hold” rating in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $191.28.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 600 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $171.56, for a total value of $102,936.00. Following the completion of the sale, the chief financial officer owned 97,376 shares in the company, valued at $16,705,826.56. This trade represents a 0.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kevin Omar Meyers acquired 175 shares of Phillips 66 stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average price of $173.12 per share, with a total value of $30,296.00. Following the transaction, the director owned 16,799 shares of the company’s stock, valued at $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 114,029 shares of company stock worth $19,641,455 in the last three months. 0.40% of the stock is currently owned by company insiders.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.