Two Sigma Investments LP Purchases New Shares in Phillips 66 (NYSE:PSX)

Two Sigma Investments LP acquired a new position in shares of Phillips 66 (NYSE:PSX - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 30,044 shares of the oil and gas company's stock, valued at approximately $3,423,000.

Other institutional investors have also modified their holdings of the company. NewEdge Wealth LLC raised its stake in Phillips 66 by 0.5% during the 4th quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company's stock worth $1,732,000 after acquiring an additional 81 shares in the last quarter. JBR Co Financial Management Inc raised its stake in 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 acquiring an additional 85 shares in the last quarter. Nwam LLC raised its holdings in shares of Phillips 66 by 2.2% in the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company's stock valued at $442,000 after buying an additional 85 shares during the last quarter. PFG Private Wealth Management LLC raised its holdings in shares of Phillips 66 by 7.7% in the fourth quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company's stock valued at $140,000 after buying an additional 88 shares during the last quarter. Finally, Tortoise Investment Management LLC raised its holdings in shares of Phillips 66 by 16.1% in the fourth quarter. Tortoise Investment Management LLC now owns 633 shares of the oil and gas company's stock valued at $72,000 after buying an additional 88 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Phillips 66 news, Director Robert W. Pease acquired 439 shares of the company's 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PSX shares. Morgan Stanley reduced their target price 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 decreased their price objective on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Wells Fargo & Company decreased their price objective on shares of Phillips 66 from $162.00 to $149.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. The Goldman Sachs Group downgraded shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective on the stock. in a report on Thursday, March 27th. Finally, Tudor Pickering downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $135.62.

Phillips 66 Trading Down 1.2%

Shares of NYSE:PSX traded down $1.37 during trading on Friday, reaching $113.31. The stock had a trading volume of 4,559,842 shares, compared to its average volume of 3,013,715. The business has a fifty day moving average price of $109.26 and a 200-day moving average price of $118.59. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock has a market cap of $46.17 billion, a P/E ratio of 22.94, a PEG ratio of 4.84 and a beta of 1.01. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The company had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. During the same period last year, the company 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 declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $1.20 per share. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date is Monday, May 19th. This represents a $4.80 annualized dividend and a yield of 4.24%. Phillips 66's dividend payout ratio is 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.