Gotham Asset Management LLC Acquires 22,412 Shares of Phillips 66 (NYSE:PSX)

Gotham Asset Management LLC boosted its stake in shares of Phillips 66 (NYSE:PSX) by 17.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 151,530 shares of the oil and gas company’s stock after acquiring an additional 22,412 shares during the quarter. Gotham Asset Management LLC’s holdings in Phillips 66 were worth $17,264,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bogart Wealth LLC lifted its holdings in Phillips 66 by 120.0% in the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 120 shares during the period. J.Safra Asset Management Corp bought a new position in shares of Phillips 66 in the 4th quarter worth $25,000. Stephens Consulting LLC grew its stake 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 bought a new stake in Phillips 66 in the fourth quarter valued at about $28,000. Finally, Human Investing LLC bought a new position in Phillips 66 during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

PSX has been the topic of a number of analyst reports. TD Cowen reduced their price objective on shares of Phillips 66 from $127.00 to $114.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. The Goldman Sachs Group cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective for the company. in a research report on Thursday, March 27th. Scotiabank decreased their target price on Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. Raymond James dropped their price target on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. lowered their target price on Phillips 66 from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Tuesday, April 29th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $136.36.

Phillips 66 Stock Performance

NYSE PSX opened at $110.86 on Friday. The firm has a market capitalization of $45.17 billion, a P/E ratio of 22.44, 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. The firm’s fifty day moving average price is $111.61 and its two-hundred day moving average price is $119.31. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $150.12.

Phillips 66 (NYSE:PSX) last issued its 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 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 previous year, the company posted $1.90 earnings per share. As a group, research analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors 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 dividend on an annualized basis and a dividend yield of 4.33%. Phillips 66’s payout ratio is presently 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.