Alpine Woods Capital Investors LLC Purchases Shares of 2,497 Phillips 66 (NYSE:PSX)

Alpine Woods Capital Investors LLC purchased a new stake in Phillips 66 (NYSE:PSX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,497 shares of the oil and gas company's stock, valued at approximately $308,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Phillips 66 by 283.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock valued at $686,618,000 after purchasing an additional 4,455,220 shares during the last quarter. Norges Bank purchased a new stake in Phillips 66 during the 4th quarter valued at approximately $497,648,000. Capitolis Liquid Global Markets LLC purchased a new stake in Phillips 66 during the 4th quarter valued at approximately $142,185,000. GAMMA Investing LLC raised its stake in Phillips 66 by 14,119.5% during the 1st quarter. GAMMA Investing LLC now owns 1,189,606 shares of the oil and gas company's stock valued at $146,893,000 after acquiring an additional 1,181,240 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in Phillips 66 by 157.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,541,240 shares of the oil and gas company's stock valued at $175,593,000 after acquiring an additional 942,922 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

PSX stock opened at $130.74 on Thursday. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $53.27 billion, a price-to-earnings ratio of 29.78, a price-to-earnings-growth ratio of 2.04 and a beta of 1.02. The stock's fifty day simple moving average is $118.36 and its 200-day simple moving average is $117.43. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). The firm had revenue of $31.92 billion during the quarter, compared to analysts' expectations of $31.93 billion. Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. During the same period last year, the business posted $1.90 earnings per share. Equities research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a $1.20 dividend. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 3.67%. The ex-dividend date was Monday, May 19th. Phillips 66's dividend payout ratio (DPR) is 109.34%.

Insider Buying and Selling

In related news, Director Robert W. Pease acquired 439 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were bought at an average cost of $113.85 per share, with a total value of $49,980.15. Following the completion of the transaction, the director directly owned 4,091 shares of the company's stock, valued at $465,760.35. This trade represents a 12.02% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total value of $571,090.00. Following the completion of the transaction, the executive vice president directly owned 43,373 shares in the company, valued at $5,638,490. This trade represents a 9.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.22% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on PSX shares. TD Cowen upped their price objective on Phillips 66 from $114.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Barclays increased their target price on Phillips 66 from $115.00 to $127.00 and gave the stock an "equal weight" rating in a research note on Wednesday. UBS Group cut their target price on Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Wells Fargo & Company cut their target price on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. Finally, Raymond James Financial cut their target price on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Eight research analysts have rated the stock with a hold rating and ten 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 target price of $134.79.

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.

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