Arkadios Wealth Advisors Buys 6,071 Shares of Phillips 66 (NYSE:PSX)

Arkadios Wealth Advisors increased its stake in Phillips 66 (NYSE:PSX - Free Report) by 14.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,900 shares of the oil and gas company's stock after purchasing an additional 6,071 shares during the period. Arkadios Wealth Advisors' holdings in Phillips 66 were worth $5,571,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PSX. Van ECK Associates Corp lifted its stake 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 last quarter. Everence Capital Management Inc. purchased a new position in shares of Phillips 66 during the 4th quarter valued at about $3,033,000. Mizuho Securities USA LLC lifted its position 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 worth $328,625,000 after buying an additional 2,467,316 shares during the last quarter. Nwam LLC purchased a new stake in Phillips 66 in the third quarter worth approximately $498,000. Finally, Principal Financial Group Inc. grew its position in Phillips 66 by 2.8% during the third quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company's stock valued at $69,775,000 after acquiring an additional 14,209 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PSX shares. Mizuho lowered their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a "neutral" rating for the company in a report on Monday, December 16th. Wolfe Research raised shares of Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price target for the company in a research note on Friday, January 3rd. UBS Group reduced their price objective on Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Barclays lowered their target price on Phillips 66 from $124.00 to $115.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. Finally, Piper Sandler cut Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Phillips 66 currently has an average rating of "Moderate Buy" and an average price target of $147.93.

Phillips 66 Trading Up 0.8 %

Shares of PSX traded up $1.01 during trading hours on Friday, reaching $120.64. 2,722,245 shares of the company traded hands, compared to its average volume of 2,658,786. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company's fifty day moving average price is $122.47 and its two-hundred day moving average price is $129.66. The company has a market capitalization of $49.82 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 3.17 and a beta of 1.38.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business's revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.63 EPS. Equities research analysts predict that Phillips 66 will post 7.22 earnings per share for the current fiscal year.

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.