Polar Asset Management Partners Inc. Acquires New Holdings in Phillips 66 (NYSE:PSX)

Polar Asset Management Partners Inc. bought a new position in Phillips 66 (NYSE:PSX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 197,000 shares of the oil and gas company's stock, valued at approximately $22,444,000.

A number of other hedge funds have also recently bought and sold shares of the company. Capital Investment Advisors LLC boosted its position in Phillips 66 by 41.3% during the 4th quarter. Capital Investment Advisors LLC now owns 4,145 shares of the oil and gas company's stock worth $472,000 after acquiring an additional 1,211 shares during the period. Wedmont Private Capital boosted its holdings in shares of Phillips 66 by 14.1% during the 4th quarter. Wedmont Private Capital now owns 6,856 shares of the oil and gas company's stock worth $781,000 after buying an additional 847 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Phillips 66 in the fourth quarter valued at about $125,000. Oak Thistle LLC bought a new position in Phillips 66 in the 4th quarter worth approximately $802,000. Finally, Fifth Third Wealth Advisors LLC raised its stake in Phillips 66 by 4.6% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 5,490 shares of the oil and gas company's stock valued at $625,000 after purchasing an additional 241 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Morgan Stanley reduced their price objective on shares of Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Scotiabank lowered their target price on Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Barclays upped their price objective on Phillips 66 from $106.00 to $115.00 and gave the stock an "equal weight" rating in a report on Monday. Wells Fargo & Company lowered their price target on shares of Phillips 66 from $162.00 to $149.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Finally, StockNews.com upgraded Phillips 66 from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $137.86.

Phillips 66 Stock Down 1.0%

PSX stock opened at $124.35 on Thursday. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a market cap of $50.66 billion, a price-to-earnings ratio of 25.17, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01. The company's 50 day moving average is $111.60 and its 200 day moving average is $119.26.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) 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 company had revenue of $31.92 billion during the quarter, compared to analysts' expectations of $31.93 billion. During the same quarter in the prior year, the firm posted $1.90 EPS. Sell-side analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a dividend of $1.20 per share. This is a boost from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date is Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a yield of 3.86%. Phillips 66's payout ratio is presently 109.34%.

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.

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