Redwood Investment Management LLC Boosts Stake in Phillips 66 (NYSE:PSX)

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

Other large investors also recently bought and sold shares of the company. Bogart Wealth LLC increased its stake in shares of Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 120 shares in the last quarter. J.Safra Asset Management Corp purchased a new stake in Phillips 66 during the 4th quarter worth approximately $25,000. Stephens Consulting LLC raised its holdings in shares of Phillips 66 by 83.5% during the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock valued at $28,000 after acquiring an additional 111 shares during the last quarter. Graney & King LLC acquired a new stake in shares of Phillips 66 in the fourth quarter worth approximately $28,000. Finally, Human Investing LLC acquired a new stake in shares of Phillips 66 in the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Trading Up 0.1%

Shares of Phillips 66 stock opened at $124.88 on Friday. The stock has a 50 day moving average of $111.57 and a 200 day moving average of $119.23. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The firm has a market capitalization of $50.88 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 4.84 and a beta of 1.01. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). The business had revenue of $31.92 billion for the quarter, compared to analysts' expectations of $31.93 billion. Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the prior year, the company posted $1.90 earnings per share. As a group, research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given 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 dividend on an annualized basis and a dividend yield of 3.84%. Phillips 66's dividend payout ratio (DPR) is currently 109.34%.

Analyst Ratings Changes

Several research firms recently commented on PSX. The Goldman Sachs Group downgraded Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective for the company. in a research note on Thursday, March 27th. UBS Group reduced their target price on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a research report on Monday, April 28th. StockNews.com upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Scotiabank cut their price objective on shares of 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, Raymond James lowered their target price on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Phillips 66 currently has a consensus rating of "Moderate Buy" and an average price target of $137.86.

About Phillips 66

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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