Phillips 66 (NYSE:PSX) is SIR Capital Management L.P.’s 6th Largest Position

SIR Capital Management L.P. trimmed its position in Phillips 66 (NYSE:PSX) by 17.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 300,119 shares of the oil and gas company’s stock after selling 64,505 shares during the quarter. Phillips 66 accounts for approximately 3.6% of SIR Capital Management L.P.’s portfolio, making the stock its 6th largest holding. SIR Capital Management L.P. owned about 0.07% of Phillips 66 worth $34,193,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PSX. Capital Investment Advisors LLC increased its position in shares of Phillips 66 by 41.3% in the fourth quarter. Capital Investment Advisors LLC now owns 4,145 shares of the oil and gas company’s stock worth $472,000 after acquiring an additional 1,211 shares in the last quarter. Oak Thistle LLC acquired a new stake in Phillips 66 in the 4th quarter valued at $802,000. Fifth Third Wealth Advisors LLC raised its position in Phillips 66 by 4.6% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 5,490 shares of the oil and gas company’s stock valued at $625,000 after purchasing an additional 241 shares during the period. Park Avenue Securities LLC lifted its stake 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 purchasing an additional 3,905 shares in the last quarter. Finally, Armstrong Advisory Group Inc. boosted 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 worth $169,000 after buying an additional 180 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PSX shares. TD Cowen boosted their price target on Phillips 66 from $114.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday. Raymond James decreased their target price on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Morgan Stanley dropped their price target on shares of Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. StockNews.com upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Monday, April 28th. Finally, UBS Group dropped their target price on Phillips 66 from $144.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $137.86.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $124.88 on Friday. The business has a 50 day simple moving average of $111.57 and a 200-day simple moving average of $119.23. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $150.12. The company has a market capitalization of $50.88 billion, a price-to-earnings ratio of 25.28, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last posted its quarterly 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 return on equity of 8.58% and a net margin of 1.46%. The business had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. During the same quarter in the previous year, the business posted $1.90 earnings per share. As a group, equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The business 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 positive change from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 3.84%. Phillips 66’s dividend payout ratio is 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.