Point72 Europe London LLP Invests $1.09 Million in Phillips 66 (NYSE:PSX)

Point72 Europe London LLP acquired a new stake in Phillips 66 (NYSE:PSX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 8,187 shares of the oil and gas company's stock, valued at approximately $1,090,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PSX. Greenleaf Trust boosted its holdings in shares of Phillips 66 by 9.0% in the 3rd quarter. Greenleaf Trust now owns 9,849 shares of the oil and gas company's stock valued at $1,183,000 after purchasing an additional 817 shares in the last quarter. WBI Investments Inc. acquired a new position in Phillips 66 during the 3rd quarter worth about $291,000. Waters Parkerson & CO. LLC bought a new stake in shares of Phillips 66 in the 3rd quarter valued at about $245,000. Nemes Rush Group LLC raised its holdings in Phillips 66 by 9.9% during the 3rd quarter. Nemes Rush Group LLC now owns 1,831 shares of the oil and gas company's stock worth $220,000 after purchasing an additional 165 shares during the last quarter. Finally, Cornerstone Advisors LLC lifted its stake in shares of Phillips 66 by 187.1% in the 3rd quarter. Cornerstone Advisors LLC now owns 8,900 shares of the oil and gas company's stock valued at $1,069,000 after purchasing an additional 5,800 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on PSX. Bank of America increased their price target on Phillips 66 from $150.00 to $180.00 and gave the stock a "neutral" rating in a report on Friday, March 15th. StockNews.com lowered Phillips 66 from a "buy" rating to a "hold" rating in a report on Monday, May 6th. Argus reaffirmed a "buy" rating and issued a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. Scotiabank lifted their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the company a "sector outperform" rating in a research report on Thursday, April 11th. Finally, Raymond James reduced their price objective on Phillips 66 from $163.00 to $160.00 and set an "outperform" rating on the stock in a research report on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Phillips 66 presently has a consensus rating of "Moderate Buy" and a consensus price target of $158.93.

Insiders Place Their Bets

In other news, EVP Timothy D. Roberts sold 37,742 shares of the company's stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the sale, the executive vice president now owns 48,365 shares of the company's stock, valued at approximately $7,051,617. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Timothy D. Roberts sold 37,742 shares of the business's stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the sale, the executive vice president now owns 48,365 shares of the company's stock, valued at approximately $7,051,617. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Joseph Scott Pruitt sold 5,922 shares of the firm's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the transaction, the vice president now directly owns 6,583 shares in the company, valued at $1,036,164.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,864 shares of company stock valued at $7,567,178. Insiders own 0.22% of the company's stock.

Phillips 66 Stock Performance

Shares of PSX stock traded down $2.28 during trading hours on Wednesday, reaching $136.01. The company had a trading volume of 2,214,489 shares, compared to its average volume of 2,742,897. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The business has a fifty day moving average price of $148.78 and a 200-day moving average price of $143.59. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The firm has a market cap of $57.66 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 1.89 and a beta of 1.37.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts' consensus estimates of $2.05 by ($0.15). The company had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same period last year, the firm posted $4.21 EPS. Sell-side analysts predict that Phillips 66 will post 12.16 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were issued a $1.15 dividend. This is an increase from Phillips 66's previous quarterly dividend of $1.05. The ex-dividend date was Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a yield of 3.38%. Phillips 66's dividend payout ratio is currently 35.38%.

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.