Graham Capital Management L.P. Invests $1.04 Million in Phillips 66 (NYSE:PSX)

Graham Capital Management L.P. bought a new position in shares of Phillips 66 (NYSE:PSX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,086 shares of the oil and gas company's stock, valued at approximately $1,035,000.

A number of other large investors have also modified their holdings of PSX. Focus Partners Wealth lifted its stake in Phillips 66 by 20.7% in the 4th quarter. Focus Partners Wealth now owns 400,379 shares of the oil and gas company's stock worth $45,862,000 after purchasing an additional 68,755 shares in the last quarter. Ethic Inc. lifted its stake in Phillips 66 by 237.2% in the 4th quarter. Ethic Inc. now owns 9,095 shares of the oil and gas company's stock worth $1,036,000 after purchasing an additional 6,398 shares in the last quarter. Fiduciary Trust Co lifted its stake in Phillips 66 by 4.9% in the 4th quarter. Fiduciary Trust Co now owns 12,014 shares of the oil and gas company's stock worth $1,369,000 after purchasing an additional 561 shares in the last quarter. First Manhattan CO. LLC. lifted its stake in Phillips 66 by 70.3% in the 4th quarter. First Manhattan CO. LLC. now owns 26,459 shares of the oil and gas company's stock worth $3,014,000 after purchasing an additional 10,926 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in Phillips 66 by 9.7% in the 4th quarter. Deutsche Bank AG now owns 2,579,365 shares of the oil and gas company's stock valued at $293,867,000 after buying an additional 227,095 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Trading Up 0.7%

Shares of PSX stock traded up $0.92 on Friday, hitting $125.69. The stock had a trading volume of 3,242,816 shares, compared to its average volume of 2,956,946. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The firm has a market capitalization of $51.21 billion, a P/E ratio of 25.44, a P/E/G ratio of 4.84 and a beta of 1.01. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $150.12. The company's 50 day moving average price is $111.57 and its 200-day moving average price is $119.23.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.97). The firm had revenue of $31.92 billion during the quarter, compared to analysts' expectations of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the firm posted $1.90 EPS. Analysts anticipate that Phillips 66 will post 6.8 earnings per share 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 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 annualized dividend and a dividend yield of 3.82%. Phillips 66's dividend payout ratio (DPR) is presently 109.34%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. The Goldman Sachs Group cut Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price for the company. in a report on Thursday, March 27th. Scotiabank reduced their target price on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Raymond James reduced their target price on shares of Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Wells Fargo & Company reduced their target price on shares of Phillips 66 from $162.00 to $149.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Finally, JPMorgan Chase & Co. lowered their price objective on Phillips 66 from $138.00 to $131.00 and set an "overweight" rating for the company in a research report on Tuesday, April 29th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $137.86.

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.