Raiffeisen Bank International AG Makes New $342,000 Investment in Phillips 66 (NYSE:PSX)

Raiffeisen Bank International AG purchased a new stake in shares of Phillips 66 (NYSE:PSX) during the 4th quarter, HoldingsChannel reports. The firm purchased 3,058 shares of the oil and gas company’s stock, valued at approximately $342,000.

A number of other hedge funds have also modified their holdings of the company. Hennion & Walsh Asset Management Inc. lifted its stake in Phillips 66 by 4.3% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 12,783 shares of the oil and gas company’s stock valued at $1,456,000 after acquiring an additional 530 shares during the period. Tallon Kerry Patrick purchased a new position in shares of Phillips 66 during the fourth quarter worth $336,000. RDA Financial Network lifted its position in Phillips 66 by 5.1% during the fourth quarter. RDA Financial Network now owns 3,619 shares of the oil and gas company’s stock valued at $412,000 after purchasing an additional 174 shares during the period. Procyon Advisors LLC boosted its holdings in Phillips 66 by 26.6% in the fourth quarter. Procyon Advisors LLC now owns 21,057 shares of the oil and gas company’s stock valued at $2,399,000 after purchasing an additional 4,419 shares during the last quarter. Finally, Walker Asset Management LLC grew its position in Phillips 66 by 4.6% during the 4th quarter. Walker Asset Management LLC now owns 2,659 shares of the oil and gas company’s stock worth $303,000 after purchasing an additional 117 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

NYSE:PSX opened at $125.69 on Friday. The company has a fifty day moving average of $111.61 and a two-hundred day moving average of $119.23. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12. The stock has a market capitalization of $51.21 billion, a PE ratio of 25.44, a P/E/G ratio of 4.84 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share 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 company had revenue of $31.92 billion during the quarter, compared to analysts’ expectations of $31.93 billion. During the same period in the prior year, the business posted $1.90 earnings per share. As a group, research analysts forecast 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. Stockholders of record on Monday, May 19th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Monday, May 19th. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s dividend payout ratio (DPR) is 109.34%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PSX. Morgan Stanley decreased their price objective on Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. The Goldman Sachs Group downgraded Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price target for the company. in a report on Thursday, March 27th. JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 29th. Barclays boosted their target price on shares of Phillips 66 from $106.00 to $115.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Finally, Wells Fargo & Company dropped 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 analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $137.86.

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.