Oxford Asset Management LLP Makes New Investment in Phillips 66 (NYSE:PSX)

Oxford Asset Management LLP bought a new position in shares of Phillips 66 (NYSE:PSX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,667 shares of the oil and gas company's stock, valued at approximately $304,000.

Several other large 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 3rd quarter worth $493,000. Invst LLC lifted its holdings in shares of Phillips 66 by 2.4% in the third 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 last quarter. Advisory Resource Group boosted its position in Phillips 66 by 4.3% in the third quarter. Advisory Resource Group now owns 241,527 shares of the oil and gas company's stock valued at $31,749,000 after buying an additional 9,930 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of Phillips 66 during the 3rd quarter valued at $796,000. Finally, Arvest Bank Trust Division bought a new position in Phillips 66 in the third quarter valued at about $1,008,000. Institutional investors own 76.93% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. StockNews.com downgraded Phillips 66 from a "hold" rating to a "sell" rating in a report on Sunday, March 2nd. The Goldman Sachs Group lowered shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective on the stock. in a report on Thursday, March 27th. Raymond James reduced their target price on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Morgan Stanley cut their target price on Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating on the stock in a report on Thursday. Finally, Mizuho cut their price target on Phillips 66 from $140.00 to $132.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Phillips 66 presently has an average rating of "Moderate Buy" and an average price target of $140.43.

Phillips 66 Stock Performance

NYSE:PSX opened at $103.98 on Monday. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $152.19. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The business has a fifty day simple moving average of $115.80 and a two-hundred day simple moving average of $121.04. The company has a market capitalization of $42.37 billion, a P/E ratio of 21.05, a P/E/G ratio of 4.84 and a beta of 1.17.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS 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 business had revenue of $31.92 billion for the quarter, compared to analysts' expectations of $31.93 billion. During the same quarter in the previous year, the company posted $1.90 earnings per share. On average, analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.62%. This is an increase from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Monday, May 19th. Phillips 66's dividend payout ratio is presently 97.17%.

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.

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