Kayne Anderson Capital Advisors LP Raises Holdings in Phillips 66 (NYSE:PSX)

Kayne Anderson Capital Advisors LP raised its holdings in Phillips 66 (NYSE:PSX - Free Report) by 125.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 371,548 shares of the oil and gas company's stock after purchasing an additional 206,950 shares during the period. Phillips 66 accounts for about 1.5% of Kayne Anderson Capital Advisors LP's holdings, making the stock its 20th biggest position. Kayne Anderson Capital Advisors LP owned 0.08% of Phillips 66 worth $49,468,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in Phillips 66 in the 4th quarter worth approximately $254,336,000. Bahl & Gaynor Inc. boosted its stake in Phillips 66 by 41.2% during the third quarter. Bahl & Gaynor Inc. now owns 1,506,861 shares of the oil and gas company's stock valued at $181,049,000 after buying an additional 439,360 shares during the period. Acadian Asset Management LLC grew its position in Phillips 66 by 1,038.3% during the third quarter. Acadian Asset Management LLC now owns 472,208 shares of the oil and gas company's stock worth $56,720,000 after buying an additional 430,723 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Phillips 66 by 53.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,214,738 shares of the oil and gas company's stock worth $145,951,000 after acquiring an additional 421,714 shares during the last quarter. Finally, Nomura Holdings Inc. raised its holdings in shares of Phillips 66 by 10,239.5% in the 3rd quarter. Nomura Holdings Inc. now owns 399,000 shares of the oil and gas company's stock valued at $47,940,000 after acquiring an additional 395,141 shares in the last quarter. Institutional investors own 76.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PSX. The Goldman Sachs Group upped their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a "buy" rating in a research report on Friday, March 22nd. Barclays dropped their price objective on shares of Phillips 66 from $155.00 to $147.00 and set an "equal weight" rating for the company in a report on Tuesday, April 30th. StockNews.com cut Phillips 66 from a "buy" rating to a "hold" rating in a research note on Monday. Bank of America upped their price objective on Phillips 66 from $150.00 to $180.00 and gave the stock a "neutral" rating in a report on Friday, March 15th. Finally, Mizuho lowered their price target on shares of Phillips 66 from $167.00 to $162.00 and set a "neutral" rating for the company in a report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $157.43.

Phillips 66 Stock Up 0.5 %

Shares of PSX stock traded up $0.78 during midday trading on Thursday, reaching $147.72. 2,161,848 shares of the stock were exchanged, compared to its average volume of 2,931,820. The firm has a market cap of $62.63 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The company's 50 day moving average is $155.60 and its two-hundred day moving average is $138.84. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The firm had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. During the same quarter last year, the company posted $4.21 EPS. On average, equities research analysts predict that Phillips 66 will post 13.17 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a dividend of $1.15 per share. The ex-dividend date is Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 3.11%. This is a positive change from Phillips 66's previous quarterly dividend of $1.05. Phillips 66's payout ratio is presently 32.31%.

Insiders Place Their Bets

In related news, Director Robert W. Pease acquired 682 shares of the stock in a transaction on Thursday, February 15th. The stock was acquired at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the purchase, the director now owns 1,900 shares of the company's stock, valued at $278,502. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Joseph Scott Pruitt sold 7,200 shares of the business's stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the transaction, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,035,242.58. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert W. Pease bought 682 shares of the business's stock in a transaction on Thursday, February 15th. The shares were acquired at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the purchase, the director now owns 1,900 shares in the company, valued at approximately $278,502. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is currently owned by company insiders.

Phillips 66 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.