Phillips 66 (NYSE:PSX) Shares Sold by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP decreased its position in Phillips 66 (NYSE:PSX) by 83.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,190 shares of the oil and gas company’s stock after selling 36,867 shares during the quarter. Occudo Quantitative Strategies LP’s holdings in Phillips 66 were worth $819,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in Phillips 66 by 7.3% during the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after acquiring an additional 639,323 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Phillips 66 by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company’s stock worth $968,844,000 after purchasing an additional 82,758 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Phillips 66 by 283.5% during the fourth 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 purchasing an additional 4,455,220 shares during the last quarter. Northern Trust Corp grew its position in shares of Phillips 66 by 10.6% in the fourth quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company’s stock valued at $522,834,000 after purchasing an additional 440,107 shares during the period. Finally, Norges Bank purchased a new stake in shares of Phillips 66 in the fourth quarter valued at $497,648,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on PSX. StockNews.com raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a research note on Monday, April 28th. Wells Fargo & Company dropped 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. TD Cowen increased their price target on shares of Phillips 66 from $114.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday. The Goldman Sachs Group lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price target on the stock. in a report on Thursday, March 27th. Finally, JPMorgan Chase & Co. dropped their price objective on Phillips 66 from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Tuesday, April 29th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $137.86.

Phillips 66 Price Performance

PSX opened at $125.62 on Wednesday. The company has a market capitalization of $51.18 billion, a P/E ratio of 25.43, a PEG ratio of 4.84 and a beta of 1.01. The company has a 50-day moving average of $111.64 and a 200-day moving average of $119.22. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data 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). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. The firm had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. During the same period in the prior year, the firm earned $1.90 earnings per share. Equities analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $1.20 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Monday, May 19th. Phillips 66’s dividend payout ratio is currently 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.