Assetmark Inc. Has $345,000 Stake in Phillips 66 (NYSE:PSX)

Assetmark Inc. grew its holdings in shares of Phillips 66 (NYSE:PSX) by 12.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,024 shares of the oil and gas company’s stock after purchasing an additional 332 shares during the period. Assetmark Inc.’s holdings in Phillips 66 were worth $345,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bogart Wealth LLC increased its stake in Phillips 66 by 120.0% during the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 120 shares during the period. J.Safra Asset Management Corp acquired a new stake in shares of Phillips 66 during the 4th quarter worth $25,000. 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 worth $28,000 after purchasing an additional 111 shares during the period. Human Investing LLC acquired a new position in Phillips 66 in the fourth quarter valued at about $30,000. Finally, Webster Bank N. A. lifted its position in Phillips 66 by 48.4% during the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 88 shares during the period. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $124.07 on Thursday. The stock has a market cap of $50.58 billion, a price-to-earnings ratio of 25.12, a P/E/G ratio of 4.84 and a beta of 1.31. Phillips 66 has a twelve month low of $108.91 and a twelve month high of $174.08. The company’s fifty day moving average is $122.45 and its 200 day moving average is $126.11. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the business posted $3.09 earnings per share. Sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $1.15 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.71%. Phillips 66’s dividend payout ratio (DPR) is currently 93.12%.

Analyst Ratings Changes

Several equities analysts have commented on PSX shares. Wells Fargo & Company raised their target price 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 downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. Mizuho lowered their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Finally, Barclays reduced their price objective 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

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.