Woodline Partners LP Acquires Shares of 24,802 Phillips 66 (NYSE:PSX)

Woodline Partners LP acquired a new stake in Phillips 66 (NYSE:PSX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 24,802 shares of the oil and gas company's stock, valued at approximately $2,826,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PSX. Bogart Wealth LLC grew its stake in Phillips 66 by 120.0% in 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 acquired a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $25,000. Stephens Consulting LLC grew its stake in shares of Phillips 66 by 83.5% in 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 in the last quarter. Graney & King LLC acquired a new position in Phillips 66 during the fourth quarter worth $28,000. Finally, Human Investing LLC acquired a new stake in Phillips 66 in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Trading Down 1.4%

PSX traded down $1.60 during trading on Wednesday, hitting $112.73. The company's stock had a trading volume of 2,006,316 shares, compared to its average volume of 2,998,715. The firm has a market capitalization of $45.93 billion, a P/E ratio of 22.82, a PEG ratio of 4.84 and a beta of 1.01. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $150.12. 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's fifty day moving average price is $109.99 and its 200-day moving average price is $118.83.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $31.93 billion. During the same period last year, the company posted $1.90 earnings per share. Analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be issued a dividend of $1.20 per share. This is a boost from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date is Monday, May 19th. Phillips 66's dividend payout ratio (DPR) is currently 109.34%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PSX shares. Tudor Pickering cut shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. UBS Group lowered their price target 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. JPMorgan Chase & Co. reduced their price objective on Phillips 66 from $138.00 to $131.00 and set an "overweight" rating for the company in a report on Tuesday, April 29th. Scotiabank decreased their target price on Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. Finally, Raymond James dropped their price target on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 has an average rating of "Moderate Buy" and a consensus target price of $137.86.

Insider Transactions at Phillips 66

In related news, Director Robert W. Pease purchased 439 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was acquired at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the purchase, the director now owns 4,091 shares of the company's stock, valued at approximately $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is currently owned by insiders.

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.