Mufg Securities Americas Inc. Takes $695,000 Position in Phillips 66 (NYSE:PSX)

Mufg Securities Americas Inc. purchased a new position in shares of Phillips 66 (NYSE:PSX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,097 shares of the oil and gas company’s stock, valued at approximately $695,000.

A number of other hedge funds have also made changes to their positions in PSX. Price T Rowe Associates Inc. MD grew its position in shares of Phillips 66 by 283.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock worth $686,618,000 after buying an additional 4,455,220 shares in the last quarter. Norges Bank acquired a new position in Phillips 66 in the fourth quarter worth about $497,648,000. Raymond James Financial Inc. acquired a new position in Phillips 66 in the fourth quarter worth $168,790,000. Capitolis Liquid Global Markets LLC acquired a new position in Phillips 66 in the fourth quarter worth $142,185,000. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Phillips 66 by 157.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,541,240 shares of the oil and gas company’s stock worth $175,593,000 after purchasing an additional 942,922 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Phillips 66 from $138.00 to $131.00 and set an “overweight” rating for the company in a report on Tuesday, April 29th. The Goldman Sachs Group downgraded Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price for the company. in a research note on Thursday, March 27th. StockNews.com upgraded Phillips 66 from a “sell” rating to a “hold” rating in a research note on Monday, April 28th. Raymond James decreased their target price on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Finally, TD Cowen boosted their price target on shares of Phillips 66 from $114.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $137.86.

Phillips 66 Stock Performance

PSX stock opened at $124.35 on Thursday. The company has a market capitalization of $50.66 billion, a P/E ratio of 25.17, a PEG ratio of 4.84 and a beta of 1.01. The company has a 50-day simple moving average of $111.60 and a 200 day simple moving average of $119.26. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week 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.

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

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.86%. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Monday, May 19th. Phillips 66’s dividend payout ratio is 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.