Redwood Investment Management LLC Buys 4,251 Shares of Phillips 66 (NYSE:PSX)

Redwood Investment Management LLC grew its holdings in Phillips 66 (NYSE:PSX - Free Report) by 41.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,485 shares of the oil and gas company's stock after purchasing an additional 4,251 shares during the quarter. Redwood Investment Management LLC's holdings in Phillips 66 were worth $1,650,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Capital Investment Advisors LLC boosted its stake in shares of Phillips 66 by 41.3% during the fourth quarter. Capital Investment Advisors LLC now owns 4,145 shares of the oil and gas company's stock valued at $472,000 after acquiring an additional 1,211 shares during the last quarter. Oak Thistle LLC purchased a new stake in shares of Phillips 66 during the fourth quarter worth about $802,000. Fifth Third Wealth Advisors LLC grew its holdings in shares of Phillips 66 by 4.6% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 5,490 shares of the oil and gas company's stock worth $625,000 after buying an additional 241 shares in the last quarter. Park Avenue Securities LLC grew its holdings in shares of Phillips 66 by 8.9% during the fourth quarter. Park Avenue Securities LLC now owns 47,774 shares of the oil and gas company's stock worth $5,443,000 after buying an additional 3,905 shares in the last quarter. Finally, Armstrong Advisory Group Inc. raised its position in shares of Phillips 66 by 13.8% in the fourth quarter. Armstrong Advisory Group Inc. now owns 1,483 shares of the oil and gas company's stock valued at $169,000 after buying an additional 180 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

PSX traded down $7.05 during trading on Wednesday, hitting $113.85. The stock had a trading volume of 4,565,906 shares, compared to its average volume of 2,975,194. 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 company has a 50 day moving average price of $111.53 and a 200-day moving average price of $119.23. Phillips 66 has a one year low of $91.01 and a one year high of $150.12. The firm has a market cap of $46.39 billion, a price-to-earnings ratio of 23.03, a P/E/G ratio of 4.84 and a beta of 1.01.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results 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). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. The business had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. During the same period in the previous year, the firm posted $1.90 EPS. As a group, research analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PSX. Raymond James cut their price target on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. The Goldman Sachs Group lowered Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price for the company. in a research note on Thursday, March 27th. Barclays increased their target price on Phillips 66 from $106.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Scotiabank lowered their price target on Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Finally, UBS Group dropped their price objective on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Six research 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 a consensus 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.