Woodline Partners LP Makes New $2.83 Million Investment in Phillips 66 (NYSE:PSX)

Woodline Partners LP bought a new position in Phillips 66 (NYSE:PSX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 24,802 shares of the oil and gas company's stock, valued at approximately $2,826,000.

Other large investors have also made changes to their positions in the company. Bogart Wealth LLC grew its holdings in shares of 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 purchasing an additional 120 shares during the last quarter. J.Safra Asset Management Corp bought a new stake in shares of Phillips 66 in the 4th quarter worth about $25,000. Stephens Consulting LLC grew its holdings in shares of Phillips 66 by 83.5% in the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 111 shares during the last quarter. Graney & King LLC bought a new stake in shares of Phillips 66 in the 4th quarter worth about $28,000. Finally, Human Investing LLC bought a new stake in shares of Phillips 66 in the 4th quarter worth about $30,000. Institutional investors own 76.93% of the company's stock.

Phillips 66 Trading Down 0.7%

PSX stock traded down $0.81 during midday trading on Friday, reaching $113.88. The company's stock had a trading volume of 574,397 shares, compared to its average volume of 2,996,388. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12. The stock has a market cap of $46.40 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01. 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 business's 50-day simple moving average is $109.50 and its 200-day simple moving average is $118.69.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). The business had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the previous year, the business posted $1.90 earnings per share. As a group, sell-side analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a $1.20 dividend. The ex-dividend date is Monday, May 19th. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 4.22%. Phillips 66's dividend payout ratio (DPR) is 109.34%.

Analysts Set New Price Targets

A number of equities research analysts have commented on PSX shares. Mizuho increased their price objective on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. TD Cowen increased their price objective 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. The Goldman Sachs Group lowered 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. 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. Finally, Morgan Stanley decreased their price objective on shares of Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $137.86.

Insiders Place Their Bets

In other news, Director Robert W. Pease bought 439 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were bought at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the acquisition, the director now owns 4,091 shares in the company, valued at approximately $465,760.35. This trade represents a 12.02% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.22% of the company's stock.

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.