AQR Capital Management LLC Has $37.08 Million Position in Phillips 66 $PSX

AQR Capital Management LLC increased its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 148.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 302,484 shares of the oil and gas company's stock after purchasing an additional 180,495 shares during the quarter. AQR Capital Management LLC owned 0.07% of Phillips 66 worth $37,082,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Pacific Center for Financial Services bought a new position in Phillips 66 during the fourth quarter worth $27,000. von Borstel & Associates Inc. bought a new stake in Phillips 66 in the first quarter valued at $27,000. Olde Wealth Management LLC bought a new stake in Phillips 66 in the first quarter valued at $28,000. Wood Tarver Financial Group LLC bought a new stake in Phillips 66 in the fourth quarter valued at $29,000. Finally, Opal Wealth Advisors LLC bought a new stake in Phillips 66 in the first quarter valued at $29,000. 76.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. set a $115.00 target price on Phillips 66 in a research note on Wednesday, June 18th. Morgan Stanley lifted their price objective on shares of Phillips 66 from $122.00 to $128.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Cantor Fitzgerald started coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They set a "neutral" rating on the stock. Tudor Pickering cut shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Bank of America cut Phillips 66 from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $144.00 to $147.00 in a research note on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, Phillips 66 presently has a consensus rating of "Moderate Buy" and an average price target of $136.40.

Insiders Place Their Bets

In other news, Director Michael A. Heim purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was acquired at an average price of $125.97 per share, with a total value of $125,970.00. Following the purchase, the director owned 12,043 shares in the company, valued at $1,517,056.71. This represents a 9.06% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sigmund L. Cornelius purchased 500 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average cost of $123.55 per share, with a total value of $61,775.00. Following the purchase, the director owned 21,543 shares in the company, valued at $2,661,637.65. This represents a 2.38% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 9,850 shares of company stock worth $1,188,910 and have sold 18,586 shares worth $2,389,145. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Stock Down 0.6%

NYSE:PSX traded down $0.83 on Friday, hitting $131.69. 414,269 shares of the company's stock traded hands, compared to its average volume of 3,229,198. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $140.60. The firm has a 50-day moving average price of $126.87 and a 200-day moving average price of $119.55. The company has a market cap of $53.22 billion, a PE ratio of 31.65, a price-to-earnings-growth ratio of 2.05 and a beta of 1.15.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The company had revenue of $33.77 billion for the quarter, compared to analysts' expectations of $32.11 billion. During the same quarter in the previous year, the business posted $2.31 EPS. Equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were paid a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.6%. Phillips 66's payout ratio is presently 115.38%.

About Phillips 66

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.