Versor Investments LP Purchases 9,600 Shares of Phillips 66 $PSX

Key Points

• Versor Investments LP increased its Phillips 66 stake by 480% in the fourth quarter, buying 9,600 additional shares and bringing its total holdings to 11,600 shares valued at about $1.5 million.
• Phillips 66 reported better-than-expected earnings for the latest quarter, posting $0.49 EPS versus an expected loss, while revenue rose 6.9% year over year to $32.54 billion.
• The company declared a quarterly dividend of $1.27 per share, payable June 1, implying an annualized yield of about 2.9%.

Versor Investments LP grew its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 480.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,600 shares of the oil and gas company's stock after buying an additional 9,600 shares during the quarter. Versor Investments LP's holdings in Phillips 66 were worth $1,497,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PSX. Vanguard Group Inc. lifted its holdings in Phillips 66 by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company's stock worth $6,701,052,000 after buying an additional 205,480 shares during the period. M&T Bank Corp grew its position in Phillips 66 by 462.9% in the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company's stock worth $352,007,000 after purchasing an additional 2,243,268 shares during the period. Amundi raised its stake in Phillips 66 by 2.8% during the 3rd quarter. Amundi now owns 2,400,180 shares of the oil and gas company's stock valued at $319,123,000 after buying an additional 65,568 shares during the last quarter. Legal & General Group Plc raised its stake in Phillips 66 by 1.5% during the 3rd quarter. Legal & General Group Plc now owns 2,276,036 shares of the oil and gas company's stock valued at $309,586,000 after buying an additional 33,397 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Phillips 66 by 424.7% during the 3rd quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company's stock valued at $257,512,000 after buying an additional 1,532,389 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Trading Up 2.1%

PSX opened at $175.13 on Tuesday. The firm has a market cap of $70.21 billion, a P/E ratio of 17.25, a P/E/G ratio of 0.26 and a beta of 0.70. Phillips 66 has a 12 month low of $109.75 and a 12 month high of $190.61. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average of $169.65 and a 200 day moving average of $150.82.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping the consensus estimate of ($0.54) by $1.03. The company had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm's revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.90) earnings per share. As a group, research analysts forecast that Phillips 66 will post 17.39 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $5.08 annualized dividend and a yield of 2.9%. Phillips 66's dividend payout ratio (DPR) is presently 50.05%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PSX. Zacks Research upgraded Phillips 66 from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 27th. Barclays upped their target price on shares of Phillips 66 from $158.00 to $177.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 8th. Raymond James Financial upped their target price on shares of Phillips 66 from $205.00 to $215.00 in a report on Thursday, April 30th. TD Cowen raised their price objective on Phillips 66 from $155.00 to $213.00 and gave the company a "buy" rating in a research report on Wednesday, April 1st. Finally, Wolfe Research raised their price objective on Phillips 66 from $187.00 to $193.00 and gave the company an "outperform" rating in a research report on Monday, April 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, Phillips 66 presently has an average rating of "Moderate Buy" and an average target price of $184.50.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 15,629 shares of the firm's stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $190.07, for a total value of $2,970,604.03. Following the completion of the sale, the chief financial officer owned 97,376 shares of the company's stock, valued at $18,508,256.32. This trade represents a 13.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Don Baldridge sold 7,500 shares of the firm's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the executive vice president directly owned 38,488 shares of the company's stock, valued at approximately $6,158,080. The trade was a 16.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 91,529 shares of company stock valued at $15,740,519 over the last quarter. Corporate insiders own 0.40% of the company's stock.

Phillips 66 Profile

Phillips 66 NYSE: PSX is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company's principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.

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