Gabelli Funds LLC Buys 27,500 Shares of Phillips 66 (NYSE:PSX)

Gabelli Funds LLC boosted its stake in Phillips 66 (NYSE:PSX - Free Report) by 22.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 151,300 shares of the oil and gas company's stock after acquiring an additional 27,500 shares during the period. Gabelli Funds LLC's holdings in Phillips 66 were worth $17,238,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSX. Morse Asset Management Inc bought a new position in Phillips 66 during the third quarter valued at $493,000. Invst LLC grew its stake in shares of Phillips 66 by 2.4% during the 3rd quarter. Invst LLC now owns 6,201 shares of the oil and gas company's stock worth $815,000 after acquiring an additional 145 shares during the period. Advisory Resource Group increased its holdings in Phillips 66 by 4.3% in the 3rd quarter. Advisory Resource Group now owns 241,527 shares of the oil and gas company's stock worth $31,749,000 after acquiring an additional 9,930 shares during the last quarter. World Investment Advisors LLC bought a new stake in Phillips 66 in the 3rd quarter valued at about $796,000. Finally, Arvest Bank Trust Division purchased a new stake in Phillips 66 during the third quarter valued at about $1,008,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PSX has been the topic of a number of recent research reports. Wolfe Research upgraded shares of Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. StockNews.com lowered Phillips 66 from a "hold" rating to a "sell" rating in a report on Sunday, March 2nd. Raymond James decreased their price objective on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. The Goldman Sachs Group lowered Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price for the company. in a report on Thursday, March 27th. Finally, Barclays lowered their price target on shares of Phillips 66 from $135.00 to $106.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $142.00.

Phillips 66 Trading Up 2.4 %

Shares of PSX stock traded up $2.31 during mid-day trading on Friday, reaching $98.88. The stock had a trading volume of 2,437,239 shares, compared to its average volume of 2,893,251. 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's 50-day moving average price is $118.36 and its two-hundred day moving average price is $122.44. The firm has a market capitalization of $40.29 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $159.25.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($1.38). 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 business posted $3.09 earnings per share. Equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a $1.15 dividend. The ex-dividend date was Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 4.65%. Phillips 66's dividend payout ratio (DPR) is presently 93.12%.

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.