Gotham Asset Management LLC Has $17.26 Million Position in Phillips 66 (NYSE:PSX)

Gotham Asset Management LLC raised its position in Phillips 66 (NYSE:PSX) by 17.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 151,530 shares of the oil and gas company’s stock after purchasing an additional 22,412 shares during the period. Gotham Asset Management LLC’s holdings in Phillips 66 were worth $17,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of PSX. Bogart Wealth LLC increased its position in 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 acquiring an additional 120 shares during the period. J.Safra Asset Management Corp acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $25,000. Stephens Consulting LLC increased 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 worth $28,000 after purchasing an additional 111 shares during the period. Graney & King LLC acquired a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $28,000. Finally, Human Investing LLC bought a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. The Goldman Sachs Group lowered Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective on the stock. in a research note on Thursday, March 27th. Morgan Stanley dropped their price target on 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. TD Cowen decreased their target price on shares of Phillips 66 from $127.00 to $114.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Barclays dropped their target price on shares of Phillips 66 from $135.00 to $106.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. Finally, Wells Fargo & Company reduced their price target on shares of Phillips 66 from $162.00 to $149.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus target price of $136.36.

Phillips 66 Trading Up 1.5 %

NYSE PSX opened at $110.86 on Friday. The company has a market cap of $45.17 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01. Phillips 66 has a twelve month low of $91.01 and a twelve month 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. The business’s fifty day moving average is $111.61 and its 200 day moving average is $119.31.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $31.93 billion. During the same period in the previous year, the business posted $1.90 earnings per share. As a group, sell-side analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 4.33%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Monday, May 19th. Phillips 66’s payout ratio is presently 109.34%.

Phillips 66 Company 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.