1248 Management LLC Takes Position in Phillips 66 (NYSE:PSX)

1248 Management LLC purchased a new position in shares of Phillips 66 (NYSE:PSX - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 3,510 shares of the oil and gas company's stock, valued at approximately $400,000.

A number of other institutional investors and hedge funds have also modified their holdings of PSX. Oppenheimer & Co. Inc. raised its position in shares of Phillips 66 by 10.6% during 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 acquiring an additional 4,515 shares during the last quarter. Flavin Financial Services Inc. bought a new stake in Phillips 66 in the fourth quarter valued at about $1,190,000. Everence Capital Management Inc. acquired a new position in Phillips 66 in the fourth quarter valued at about $3,033,000. Donoghue Forlines LLC acquired a new position in Phillips 66 in the fourth quarter valued at about $1,438,000. Finally, Smith Group Asset Management LLC bought a new position in Phillips 66 during the fourth quarter worth about $1,149,000. 76.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. UBS Group cut their price target on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a research report on Monday. Morgan Stanley cut their target price on shares of Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Mizuho decreased their price target on shares of Phillips 66 from $140.00 to $132.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Raymond James dropped their price objective on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. decreased their target price on Phillips 66 from $138.00 to $131.00 and set an "overweight" rating for the company in a research note on Tuesday. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $136.36.

Phillips 66 Stock Down 0.5 %

Shares of Phillips 66 stock opened at $103.51 on Friday. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $150.12. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The business's 50 day simple moving average is $113.83 and its 200 day simple moving average is $120.39. The firm has a market cap of $42.17 billion, a PE ratio of 20.95, a P/E/G ratio of 4.84 and a beta of 1.17.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). The business had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the prior year, the firm earned $1.90 EPS. On average, analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be issued a $1.20 dividend. This is a boost from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Monday, May 19th. This represents a $4.80 annualized dividend and a dividend yield of 4.64%. Phillips 66's dividend payout ratio (DPR) is presently 109.34%.

Phillips 66 Company 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.

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