Thomist Capital Management LP Sells 196,000 Shares of Phillips 66 (NYSE:PSX)

Thomist Capital Management LP reduced its holdings in Phillips 66 (NYSE:PSX - Free Report) by 56.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 148,500 shares of the oil and gas company's stock after selling 196,000 shares during the quarter. Phillips 66 makes up 4.0% of Thomist Capital Management LP's portfolio, making the stock its 9th biggest position. Thomist Capital Management LP's holdings in Phillips 66 were worth $16,631,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Bogart Wealth LLC lifted its holdings in shares of Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 120 shares during the last quarter. J.Safra Asset Management Corp bought a new stake in Phillips 66 in the fourth quarter valued at $25,000. Stephens Consulting LLC boosted its holdings in shares of Phillips 66 by 83.5% during the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock valued at $28,000 after acquiring an additional 111 shares during the period. Graney & King LLC acquired a new position in shares of Phillips 66 during the fourth quarter valued at $28,000. Finally, Human Investing LLC acquired a new stake in shares of Phillips 66 in the 4th quarter worth about $30,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Trading Down 7.5%

NYSE PSX traded down $9.06 on Wednesday, hitting $111.84. 7,208,542 shares of the company were exchanged, compared to its average volume of 2,989,561. 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 has a twelve month low of $91.01 and a twelve month high of $150.12. The firm has a market capitalization of $45.57 billion, a P/E ratio of 22.64, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01. The company's 50 day moving average price is $111.53 and its 200-day moving average price is $119.23.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly 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 firm had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the firm earned $1.90 EPS. Analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be paid a $1.20 dividend. 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 4.29%. The ex-dividend date is Monday, May 19th. Phillips 66's dividend payout ratio is currently 109.34%.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Phillips 66 from $138.00 to $131.00 and set an "overweight" rating for the company in a research note on Tuesday, April 29th. Barclays increased their price objective on Phillips 66 from $106.00 to $115.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Mizuho lifted their target price on Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. The Goldman Sachs Group cut Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price target for the company. in a research note on Thursday, March 27th. Finally, Scotiabank cut their price objective on shares of 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. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $137.86.

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.