Lighthouse Investment Partners LLC Buys New Stake in Phillips 66 (NYSE:PSX)

Lighthouse Investment Partners LLC purchased a new position in shares of Phillips 66 (NYSE:PSX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,180 shares of the oil and gas company’s stock, valued at approximately $476,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NewEdge Wealth LLC lifted its holdings in shares of Phillips 66 by 0.5% in the 4th quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock valued at $1,732,000 after purchasing an additional 81 shares during the last quarter. JBR Co Financial Management Inc increased its position in Phillips 66 by 0.9% during the fourth quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company’s stock worth $1,085,000 after buying an additional 85 shares during the period. Nwam LLC lifted its stake in Phillips 66 by 2.2% in the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock valued at $442,000 after buying an additional 85 shares during the last quarter. Webster Bank N. A. boosted its holdings in shares of Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 88 shares during the period. Finally, PFG Private Wealth Management LLC grew its position in shares of Phillips 66 by 7.7% during the fourth quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company’s stock worth $140,000 after acquiring an additional 88 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. UBS Group cut their target price on shares of Phillips 66 from $144.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Morgan Stanley dropped their price objective 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 research note on Monday, April 28th. Scotiabank dropped their price target on Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 11th. Finally, TD Cowen increased their price objective on Phillips 66 from $114.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $137.86.

Phillips 66 Stock Performance

Shares of PSX stock opened at $124.35 on Thursday. 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 stock has a 50 day simple moving average of $111.60 and a 200-day simple moving average of $119.26. The company has a market cap of $50.66 billion, a price-to-earnings ratio of 25.17, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.97). The business had revenue of $31.92 billion during the quarter, compared to analysts’ expectations of $31.93 billion. Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the previous year, the company posted $1.90 EPS. On average, equities analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be paid a $1.20 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date is Monday, May 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.86%. Phillips 66’s dividend payout ratio (DPR) is 109.34%.

Phillips 66 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.