Olympiad Research LP Makes New Investment in Phillips 66 (NYSE:PSX)

Olympiad Research LP acquired a new stake in Phillips 66 (NYSE:PSX - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 4,615 shares of the oil and gas company's stock, valued at approximately $607,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PSX. Manning & Napier Advisors LLC acquired a new stake in Phillips 66 in the 2nd quarter valued at approximately $17,670,000. M&G Plc bought a new stake in shares of Phillips 66 in the second quarter worth $3,596,000. Duality Advisers LP acquired a new position in Phillips 66 during the first quarter worth $3,596,000. Meeder Asset Management Inc. bought a new position in Phillips 66 in the first quarter valued at $1,283,000. Finally, Cetera Investment Advisers increased its stake in Phillips 66 by 318.9% in the 1st quarter. Cetera Investment Advisers now owns 142,548 shares of the oil and gas company's stock valued at $23,284,000 after buying an additional 108,515 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. UBS Group decreased their price objective on Phillips 66 from $150.00 to $138.00 and set a "buy" rating for the company in a report on Monday. Mizuho lowered their price target on Phillips 66 from $154.00 to $150.00 and set a "neutral" rating on the stock in a research report on Monday, September 16th. Wells Fargo & Company cut their price objective on Phillips 66 from $182.00 to $167.00 and set an "overweight" rating for the company in a report on Wednesday, October 9th. Wolfe Research assumed coverage on shares of Phillips 66 in a report on Thursday, July 18th. They set a "peer perform" rating on the stock. Finally, Barclays dropped their price target on shares of Phillips 66 from $138.00 to $133.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $150.38.

Phillips 66 Price Performance

Shares of PSX stock traded down $1.22 during trading on Thursday, hitting $126.68. The company had a trading volume of 1,615,963 shares, compared to its average volume of 2,665,448. The stock's 50-day moving average price is $130.59 and its 200 day moving average price is $137.00. Phillips 66 has a one year low of $110.54 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The firm has a market capitalization of $52.32 billion, a P/E ratio of 16.26, a price-to-earnings-growth ratio of 3.94 and a beta of 1.33.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.41. The company had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. Phillips 66's quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the firm posted $4.63 EPS. Equities analysts expect that Phillips 66 will post 7.69 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66's dividend payout ratio (DPR) is presently 59.05%.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the firm's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the sale, the chief financial officer now owns 81,937 shares of the company's stock, valued at approximately $11,390,062.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.22% of the stock is currently owned by company insiders.

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.