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

Phillips 66 logo with Energy background

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.

Check Out Our Latest Stock Analysis on Phillips 66

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

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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