Polar Asset Management Partners Inc. Takes $22.44 Million Position in Phillips 66 (NYSE:PSX)

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

Several other large investors have also recently modified their holdings of PSX. Forum Financial Management LP lifted its stake in Phillips 66 by 1.0% in the fourth 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 period. NewEdge Wealth LLC boosted its holdings in Phillips 66 by 0.5% during the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company's stock worth $1,732,000 after buying an additional 81 shares in the last quarter. JBR Co Financial Management Inc raised its stake in shares of Phillips 66 by 0.9% during the 4th quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company's stock worth $1,085,000 after buying an additional 85 shares during the period. Nwam LLC increased its position in shares of Phillips 66 by 2.2% during the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company's stock worth $442,000 after purchasing an additional 85 shares in the last quarter. Finally, Webster Bank N. A. increased its stake in shares of Phillips 66 by 48.4% in the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company's stock worth $31,000 after acquiring an additional 88 shares during the last quarter. Institutional investors own 76.93% of the company's stock.

Insiders Place Their Bets

In related news, Director Robert W. Pease acquired 439 shares of the stock in a transaction dated Thursday, May 22nd. The stock was bought at an average price of $113.85 per share, with a total value of $49,980.15. Following the completion of the transaction, the director now directly owns 4,091 shares of the company's stock, valued at approximately $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.22% of the company's stock.

Phillips 66 Stock Performance

Shares of NYSE:PSX traded down $1.36 during trading on Friday, reaching $113.32. The stock had a trading volume of 1,131,722 shares, compared to its average volume of 2,998,700. The stock has a fifty day simple moving average of $109.50 and a two-hundred day simple moving average of $118.69. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12. The firm has a market capitalization of $46.17 billion, a price-to-earnings ratio of 22.93, a P/E/G ratio of 4.84 and a beta of 1.01. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results 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 company had revenue of $31.92 billion for the quarter, compared to the consensus estimate 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 firm posted $1.90 EPS. As a group, analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend is Monday, May 19th. This is a boost from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's payout ratio is 109.34%.

Analyst Ratings Changes

Several analysts have recently issued reports on PSX shares. Scotiabank reduced their price objective on Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Mizuho upped their price objective on Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Barclays boosted their target price on Phillips 66 from $106.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Wells Fargo & Company lowered their price target on Phillips 66 from $162.00 to $149.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Finally, Tudor Pickering cut shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $137.86.

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.