Aigen Investment Management LP Makes New $648,000 Investment in Phillips 66 (NYSE:PSX)

Aigen Investment Management LP acquired a new position in shares of Phillips 66 (NYSE:PSX) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,952 shares of the oil and gas company’s stock, valued at approximately $648,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Ninety One UK Ltd boosted its stake in shares of Phillips 66 by 9.4% in the 4th quarter. Ninety One UK Ltd now owns 277,477 shares of the oil and gas company’s stock worth $19,407,000 after buying an additional 23,808 shares during the last quarter. FDx Advisors Inc. boosted its stake in shares of Phillips 66 by 8.0% in the 1st quarter. FDx Advisors Inc. now owns 36,855 shares of the oil and gas company’s stock worth $3,005,000 after buying an additional 2,741 shares during the last quarter. Associated Banc Corp boosted its stake in shares of Phillips 66 by 12.9% in the 4th quarter. Associated Banc Corp now owns 234,124 shares of the oil and gas company’s stock worth $16,375,000 after buying an additional 26,675 shares during the last quarter. Wedbush Securities Inc. boosted its stake in shares of Phillips 66 by 26.5% in the 1st quarter. Wedbush Securities Inc. now owns 16,874 shares of the oil and gas company’s stock worth $1,376,000 after buying an additional 3,539 shares during the last quarter. Finally, RNC Capital Management LLC boosted its stake in shares of Phillips 66 by 31.4% in the 1st quarter. RNC Capital Management LLC now owns 356,502 shares of the oil and gas company’s stock worth $29,069,000 after buying an additional 85,164 shares during the last quarter. 69.20% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on the company. Citigroup boosted their target price on Phillips 66 from $81.00 to $99.00 in a research note on Wednesday, March 17th. Mizuho upped their price objective on Phillips 66 from $96.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, May 17th. Royal Bank of Canada upped their price objective on Phillips 66 from $85.00 to $91.00 and gave the company an “outperform” rating in a research note on Monday, May 3rd. Barclays upped their price objective on Phillips 66 from $75.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, March 8th. Finally, Morgan Stanley upped their price objective on Phillips 66 from $82.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, March 11th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $85.44.

Phillips 66 stock opened at $91.64 on Friday. The company has a market capitalization of $40.13 billion, a PE ratio of -18.82, a P/E/G ratio of 1.54 and a beta of 1.69. Phillips 66 has a fifty-two week low of $43.27 and a fifty-two week high of $94.34. The stock has a fifty day moving average price of $83.33. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Thursday, April 29th. The oil and gas company reported ($1.16) earnings per share for the quarter, topping the consensus estimate of ($1.40) by $0.24. The firm had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $16.57 billion. Phillips 66 had a negative net margin of 3.22% and a negative return on equity of 6.12%. During the same quarter in the prior year, the firm posted $1.02 earnings per share. As a group, equities research analysts forecast that Phillips 66 will post 2.73 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 1st. Stockholders of record on Monday, May 24th were issued a $0.90 dividend. The ex-dividend date was Friday, May 21st. This represents a $3.60 annualized dividend and a dividend yield of 3.93%. Phillips 66’s payout ratio is currently -404.49%.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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