Occudo Quantitative Strategies LP Decreases Stock Holdings in Phillips 66 (NYSE:PSX)

Occudo Quantitative Strategies LP decreased its holdings in Phillips 66 (NYSE:PSX - Free Report) by 83.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,190 shares of the oil and gas company's stock after selling 36,867 shares during the period. Occudo Quantitative Strategies LP's holdings in Phillips 66 were worth $819,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PSX. Price T Rowe Associates Inc. MD boosted its stake in shares of Phillips 66 by 283.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock worth $686,618,000 after buying an additional 4,455,220 shares during the last quarter. Norges Bank purchased a new position in shares of Phillips 66 in the 4th quarter worth $497,648,000. Raymond James Financial Inc. purchased a new position in shares of Phillips 66 in the 4th quarter worth $168,790,000. Capitolis Liquid Global Markets LLC purchased a new position in shares of Phillips 66 in the 4th quarter worth $142,185,000. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Phillips 66 by 157.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,541,240 shares of the oil and gas company's stock worth $175,593,000 after buying an additional 942,922 shares during the last quarter. Institutional investors own 76.93% of the company's stock.

Phillips 66 Price Performance

Shares of NYSE:PSX traded up $0.92 during trading on Friday, reaching $125.69. 3,242,816 shares of the company's stock traded hands, compared to its average volume of 2,961,247. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12. The firm has a market cap of $51.21 billion, a PE ratio of 25.44, a P/E/G ratio of 4.84 and a beta of 1.01. The company has a 50-day simple moving average of $111.61 and a 200-day simple moving average of $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). 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 during the quarter, compared to analyst estimates of $31.93 billion. During the same quarter in the previous year, the firm posted $1.90 earnings per share. As a group, analysts predict 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 represents a $4.80 dividend on an annualized basis and a yield of 3.82%. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date is Monday, May 19th. Phillips 66's dividend payout ratio (DPR) is 109.34%.

Wall Street Analyst Weigh In

PSX has been the topic of several analyst reports. The Goldman Sachs Group downgraded Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price on the stock. in a research report on Thursday, March 27th. Wells Fargo & Company lowered their target price on Phillips 66 from $162.00 to $149.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. UBS Group lowered their target price on Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Mizuho boosted their price objective on Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Finally, StockNews.com upgraded Phillips 66 from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.