Phillips 66 (NYSE:PSX) Holdings Increased by GAMMA Investing LLC

GAMMA Investing LLC boosted its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 14,119.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,189,606 shares of the oil and gas company's stock after purchasing an additional 1,181,240 shares during the period. GAMMA Investing LLC owned approximately 0.29% of Phillips 66 worth $146,893,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Oppenheimer & Co. Inc. raised its stake in shares of Phillips 66 by 10.6% in 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 period. Flavin Financial Services Inc. purchased a new position in shares of Phillips 66 in the 4th quarter valued at $1,190,000. Corps Capital Advisors LLC purchased a new position in shares of Phillips 66 in the 4th quarter valued at $412,000. Cohen & Steers Inc. raised its stake in shares of Phillips 66 by 40.3% in the 4th quarter. Cohen & Steers Inc. now owns 91,663 shares of the oil and gas company's stock valued at $10,443,000 after acquiring an additional 26,318 shares during the period. Finally, American Assets Investment Management LLC raised its stake in shares of Phillips 66 by 2.3% in the 4th quarter. American Assets Investment Management LLC now owns 130,800 shares of the oil and gas company's stock valued at $14,902,000 after acquiring an additional 3,000 shares during the period. Hedge funds and other institutional investors own 76.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PSX. TD Cowen raised their target price on shares of Phillips 66 from $114.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Wells Fargo & Company dropped their price target on shares of Phillips 66 from $162.00 to $149.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Raymond James dropped their price target on shares of Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. UBS Group dropped 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 note on Monday, April 28th. Finally, Morgan Stanley dropped their price target on shares of Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Phillips 66 currently has an average rating of "Moderate Buy" and a consensus price target of $135.62.

Insider Activity at Phillips 66

In other news, Director Robert W. Pease acquired 439 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were purchased at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the transaction, the director now directly owns 4,091 shares in the company, valued at $465,760.35. This trade represents a 12.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is currently owned by insiders.

Phillips 66 Stock Performance

Shares of NYSE PSX traded down $0.37 during midday trading on Thursday, hitting $112.12. The company's stock had a trading volume of 2,835,905 shares, compared to its average volume of 3,016,646. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12. The firm's fifty day moving average price is $108.42 and its 200-day moving average price is $118.13. 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 firm has a market cap of $45.68 billion, a P/E ratio of 22.70, a P/E/G ratio of 4.84 and a beta of 1.02.

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

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a $1.20 dividend. The ex-dividend date of this dividend was Monday, May 19th. This is an increase from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 4.28%. Phillips 66's dividend payout ratio (DPR) is currently 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.