Versor Investments LP Buys 9,600 Shares of Phillips 66 $PSX

Versor Investments LP grew its stake in shares of Phillips 66 (NYSE:PSX) by 480.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 11,600 shares of the oil and gas company’s stock after acquiring an additional 9,600 shares during the period. Versor Investments LP’s holdings in Phillips 66 were worth $1,497,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Phillips 66 by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock worth $6,701,052,000 after buying an additional 205,480 shares in the last quarter. M&T Bank Corp raised its stake in Phillips 66 by 462.9% in the fourth quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock worth $352,007,000 after buying an additional 2,243,268 shares in the last quarter. Amundi raised its stake in Phillips 66 by 2.8% in the third quarter. Amundi now owns 2,400,180 shares of the oil and gas company’s stock worth $319,123,000 after buying an additional 65,568 shares in the last quarter. Legal & General Group Plc raised its stake in Phillips 66 by 1.5% in the third quarter. Legal & General Group Plc now owns 2,276,036 shares of the oil and gas company’s stock worth $309,586,000 after buying an additional 33,397 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Phillips 66 by 424.7% in the third quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock worth $257,512,000 after buying an additional 1,532,389 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX stock opened at $175.13 on Tuesday. The business’s fifty day simple moving average is $169.65 and its 200-day simple moving average is $150.82. The company has a market cap of $70.21 billion, a PE ratio of 17.25, a PEG ratio of 0.26 and a beta of 0.70. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. Phillips 66 has a 12-month low of $109.75 and a 12-month high of $190.61.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. The firm had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.90) earnings per share. Analysts expect that Phillips 66 will post 17.39 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be issued a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.9%. Phillips 66’s payout ratio is 50.05%.

Insider Activity

In other news, EVP Don Baldridge sold 7,500 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the sale, the executive vice president directly owned 38,488 shares of the company’s stock, valued at $6,158,080. The trade was a 16.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin J. Mitchell sold 15,629 shares of the business’s stock in a transaction on Monday, March 30th. The shares were sold at an average price of $190.07, for a total transaction of $2,970,604.03. Following the sale, the chief financial officer directly owned 97,376 shares in the company, valued at $18,508,256.32. This trade represents a 13.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 91,529 shares of company stock valued at $15,740,519. 0.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on PSX. Argus boosted their price objective on shares of Phillips 66 from $152.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Wolfe Research raised their price target on shares of Phillips 66 from $187.00 to $193.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Citigroup boosted their price objective on shares of Phillips 66 from $159.00 to $183.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Scotiabank increased their target price on shares of Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, Zacks Research raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $184.50.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.