Twinbeech Capital LP Buys Shares of 7,612 Phillips 66 (NYSE:PSX)

Twinbeech Capital LP acquired a new stake in shares of Phillips 66 (NYSE:PSX - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 7,612 shares of the oil and gas company's stock, valued at approximately $867,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bogart Wealth LLC increased its stake in 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 acquiring an additional 120 shares during the last quarter. J.Safra Asset Management Corp bought a new position in Phillips 66 in the fourth quarter valued at $25,000. Stephens Consulting LLC grew its stake 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 buying an additional 111 shares during the last quarter. Graney & King LLC bought a new position in shares of Phillips 66 during the fourth quarter valued at about $28,000. Finally, Human Investing LLC bought a new position in shares of Phillips 66 during the fourth quarter valued at about $30,000. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PSX shares. Tudor Pickering lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Raymond James lowered their price objective on shares of Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Morgan Stanley lowered their price objective on shares of Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. UBS Group lowered their target price on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a report on Monday, April 28th. Finally, Wall Street Zen upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $137.86.

Phillips 66 Stock Up 0.8%

NYSE PSX traded up $0.92 during mid-day trading on Tuesday, reaching $114.05. The stock had a trading volume of 502,877 shares, compared to its average volume of 3,561,294. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $150.12. The stock has a market cap of $46.47 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01. The company has a fifty day moving average price of $110.28 and a 200 day moving average price of $118.86. 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 for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The firm had revenue of $31.92 billion during the quarter, compared to analysts' expectations of $31.93 billion. During the same quarter in the previous year, the firm earned $1.90 earnings per share. On average, research analysts expect 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. Shareholders of record on Monday, May 19th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, May 19th. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 4.21%. Phillips 66's payout ratio 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.