197,000 Shares in Phillips 66 (NYSE:PSX) Acquired by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. purchased a new stake in shares of Phillips 66 (NYSE:PSX - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 197,000 shares of the oil and gas company's stock, valued at approximately $22,444,000.

Several other hedge funds also recently modified their holdings of the company. Garde Capital Inc. grew its holdings in shares of Phillips 66 by 52.2% in the 4th quarter. Garde Capital Inc. now owns 1,303 shares of the oil and gas company's stock worth $148,000 after acquiring an additional 447 shares during the last quarter. Great Valley Advisor Group Inc. grew its holdings in shares of Phillips 66 by 1.3% in the 4th quarter. Great Valley Advisor Group Inc. now owns 15,695 shares of the oil and gas company's stock worth $1,788,000 after acquiring an additional 196 shares during the last quarter. Putney Financial Group LLC acquired a new position in shares of Phillips 66 in the 4th quarter worth $77,000. Mackenzie Financial Corp grew its holdings in shares of Phillips 66 by 14.1% in the 4th quarter. Mackenzie Financial Corp now owns 42,439 shares of the oil and gas company's stock worth $4,835,000 after acquiring an additional 5,233 shares during the last quarter. Finally, Forum Financial Management LP grew its holdings in shares of Phillips 66 by 1.0% in the 4th quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company's stock worth $853,000 after acquiring an additional 77 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Phillips 66

In other Phillips 66 news, Director Robert W. Pease acquired 439 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was acquired at an average cost of $113.85 per share, with a total value of $49,980.15. Following the purchase, the director now directly owns 4,091 shares of the company's stock, valued at approximately $465,760.35. This represents a 12.02% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.22% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PSX has been the subject of a number of analyst reports. Morgan Stanley reduced their price target on Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group cut Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price for the company. in a report on Thursday, March 27th. JPMorgan Chase & Co. decreased their price objective on Phillips 66 from $138.00 to $131.00 and set an "overweight" rating for the company in a report on Tuesday, April 29th. Barclays raised their price objective on shares of Phillips 66 from $106.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Finally, Tudor Pickering downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Phillips 66 presently has a consensus rating of "Moderate Buy" and an average target price of $137.86.

Phillips 66 Stock Performance

Phillips 66 stock traded up $2.03 during midday trading on Thursday, reaching $114.80. 2,609,864 shares of the company traded hands, compared to its average volume of 3,002,777. The firm has a market capitalization of $46.77 billion, a price-to-earnings ratio of 23.24, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01. The business has a 50 day moving average of $109.74 and a two-hundred day moving average of $118.78. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $150.12. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

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) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 8.58% and a net margin of 1.46%. During the same period last year, the company earned $1.90 earnings per share. As a group, research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 4.18%. 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. Phillips 66's dividend payout ratio (DPR) is presently 109.34%.

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.