Voloridge Investment Management LLC Lowers Position in Phillips 66 (NYSE:PSX)

Voloridge Investment Management LLC decreased its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 459,938 shares of the oil and gas company's stock after selling 24,469 shares during the quarter. Voloridge Investment Management LLC owned about 0.11% of Phillips 66 worth $52,401,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Bogart Wealth LLC grew its position in shares of Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 120 shares in the last quarter. J.Safra Asset Management Corp purchased a new stake in shares of Phillips 66 in the fourth quarter worth about $25,000. Stephens Consulting LLC boosted its stake in 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 purchased a new position in Phillips 66 during the 4th quarter valued at approximately $28,000. Finally, Human Investing LLC bought a new stake in Phillips 66 in the 4th quarter worth approximately $30,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on PSX shares. Wells Fargo & Company lowered their target price on Phillips 66 from $162.00 to $149.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Mizuho increased their price objective on shares of Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. TD Cowen boosted their target price on shares of Phillips 66 from $114.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Barclays upped their target price on shares of Phillips 66 from $106.00 to $115.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Finally, Scotiabank dropped their price target on Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $137.86.

Phillips 66 Stock Down 1.1%

Shares of NYSE PSX opened at $120.81 on Wednesday. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $150.12. The firm has a 50-day simple moving average of $111.53 and a two-hundred day simple moving average of $119.23. The company has a market cap of $49.22 billion, a P/E ratio of 24.46, a PEG ratio of 4.84 and a beta of 1.01. 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 issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share 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 business 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 company posted $1.90 earnings per share. Research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm 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 $1.20 dividend. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a yield of 3.97%. Phillips 66's dividend payout ratio (DPR) is presently 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.

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