Voleon Capital Management LP Invests $3.02 Million in Phillips 66 (NYSE:PSX)

Voleon Capital Management LP bought a new position in Phillips 66 (NYSE:PSX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 26,475 shares of the oil and gas company's stock, valued at approximately $3,016,000.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position 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 bought a new stake in Phillips 66 during the fourth quarter worth about $497,648,000. Raymond James Financial Inc. purchased a new stake in Phillips 66 in the fourth quarter worth about $168,790,000. Amundi grew its stake in shares of Phillips 66 by 25.7% in the 4th quarter. Amundi now owns 3,682,414 shares of the oil and gas company's stock worth $428,081,000 after buying an additional 753,653 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in shares of Phillips 66 by 166.7% in the fourth quarter. National Bank of Canada FI now owns 1,134,582 shares of the oil and gas company's stock worth $129,266,000 after acquiring an additional 709,219 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Performance

NYSE PSX traded up $3.62 on Friday, hitting $107.08. 2,587,177 shares of the company traded hands, compared to its average volume of 2,896,890. 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 business's 50 day moving average price is $113.45 and its 200-day moving average price is $120.14. The company has a market capitalization of $43.63 billion, a price-to-earnings ratio of 21.68, a P/E/G ratio of 4.84 and a beta of 1.17. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). The firm had revenue of $31.92 billion for the quarter, compared to analysts' expectations of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the firm earned $1.90 EPS. Equities analysts expect 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. Investors of record on Monday, May 19th will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend is Monday, May 19th. This is an increase from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend payout ratio (DPR) is 109.34%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Mizuho decreased their target price on shares of Phillips 66 from $140.00 to $132.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Piper Sandler cut Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. StockNews.com raised Phillips 66 from a "sell" rating to a "hold" rating in a report on Monday, April 28th. JPMorgan Chase & Co. lowered their price target on Phillips 66 from $138.00 to $131.00 and set an "overweight" rating on the stock in a report on Tuesday, April 29th. Finally, 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 report on Thursday, March 27th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $136.36.

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.