4,180 Shares in Phillips 66 (NYSE:PSX) Bought by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC bought a new stake in Phillips 66 (NYSE:PSX) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 4,180 shares of the oil and gas company’s stock, valued at approximately $476,000.

Other hedge funds have also made changes to their positions in the company. Oppenheimer & Co. Inc. boosted its position in shares of Phillips 66 by 10.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock worth $5,349,000 after buying an additional 4,515 shares in the last quarter. Flavin Financial Services Inc. acquired a new position in Phillips 66 during the fourth quarter worth about $1,190,000. Donoghue Forlines LLC purchased a new stake in shares of Phillips 66 in the fourth quarter valued at about $1,438,000. Smith Group Asset Management LLC acquired a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $1,149,000. Finally, Corps Capital Advisors LLC purchased a new position in shares of Phillips 66 during the 4th quarter worth approximately $412,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Scotiabank reduced their target price on Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company reduced their price objective on Phillips 66 from $162.00 to $149.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Mizuho increased their price objective on Phillips 66 from $132.00 to $138.00 and gave the company a “neutral” rating in a research note on Tuesday. Morgan Stanley cut their target price on shares of Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Finally, TD Cowen raised 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. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $137.86.

Phillips 66 Stock Performance

NYSE:PSX opened at $124.35 on Thursday. The company has a market cap of $50.66 billion, a P/E ratio of 25.17, a P/E/G ratio of 4.84 and a beta of 1.01. The firm’s 50 day moving average is $111.60 and its two-hundred day moving average is $119.26. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last issued its 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). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The firm had revenue of $31.92 billion during the quarter, compared to analysts’ expectations of $31.93 billion. During the same period last year, the business posted $1.90 earnings per share. Analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a $1.20 dividend. 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 3.86%. The ex-dividend date of this dividend is Monday, May 19th. Phillips 66’s payout ratio is currently 109.34%.

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.