Goldman Sachs Group Inc. Boosts Holdings in Phillips 66 (NYSE:PSX)

Key Points

• Goldman Sachs Group Inc. increased its stake in Phillips 66 by 11.1%, acquiring an additional 377,132 shares to own a total of 3,781,064 shares valued at approximately $466.9 million.
• Phillips 66 recently declared a $1.20 quarterly dividend to be paid on September 2nd, representing an annualized yield of 4.0% and a payout ratio of 115.38%.
• Several analysts have issued varied ratings on Phillips 66, with a consensus rating of "Moderate Buy" and a price target of $136.20.

Goldman Sachs Group Inc. lifted its position in Phillips 66 (NYSE:PSX - Free Report) by 11.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,781,064 shares of the oil and gas company's stock after buying an additional 377,132 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.93% of Phillips 66 worth $466,886,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in shares of Phillips 66 by 283.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock worth $686,618,000 after purchasing an additional 4,455,220 shares during the last quarter. Northern Trust Corp increased its position in shares of Phillips 66 by 10.6% in the fourth quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company's stock worth $522,834,000 after purchasing an additional 440,107 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Phillips 66 by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,014,113 shares of the oil and gas company's stock worth $457,257,000 after purchasing an additional 357,705 shares during the last quarter. Deutsche Bank AG increased its position in shares of Phillips 66 by 9.7% in the fourth quarter. Deutsche Bank AG now owns 2,579,365 shares of the oil and gas company's stock worth $293,867,000 after purchasing an additional 227,095 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Phillips 66 by 0.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,535,417 shares of the oil and gas company's stock worth $288,860,000 after purchasing an additional 14,572 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Trading Down 0.1%

Shares of Phillips 66 stock traded down $0.16 on Friday, hitting $119.14. The stock had a trading volume of 1,694,152 shares, compared to its average volume of 2,537,577. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. Phillips 66 has a one year low of $91.01 and a one year high of $140.85. The stock has a market cap of $48.15 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 1.61 and a beta of 1.09. The stock's 50-day simple moving average is $123.09 and its two-hundred day simple moving average is $118.91.

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

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a yield of 4.0%. Phillips 66's dividend payout ratio (DPR) is presently 115.38%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PSX. Raymond James Financial set a $142.00 price objective on shares of Phillips 66 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Citigroup cut shares of Phillips 66 from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $126.00 to $130.00 in a research report on Wednesday, July 16th. Barclays upped their price objective on shares of Phillips 66 from $115.00 to $127.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Scotiabank reiterated a "sector perform" rating and set a $133.00 price target on shares of Phillips 66 in a research report on Friday, July 11th. Finally, Mizuho increased their price target on shares of Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Ten equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of "Moderate Buy" and a consensus target price of $136.20.

Insider Buying and Selling

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total value of $571,090.00. Following the completion of the sale, the executive vice president owned 43,373 shares of the company's stock, valued at $5,638,490. This trade represents a 9.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert W. Pease acquired 439 shares of the stock in a transaction on Thursday, May 22nd. The shares were purchased at an average cost of $113.85 per share, with a total value of $49,980.15. Following the transaction, the director directly owned 4,091 shares of the company's stock, valued at approximately $465,760.35. This trade represents a 12.02% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 1,939 shares of company stock valued at $237,725 over the last three months. Insiders own 0.22% of the company's stock.

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.