Quantessence Capital LLC Buys New Holdings in Phillips 66 (NYSE:PSX)

Quantessence Capital LLC acquired a new stake in Phillips 66 (NYSE:PSX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 15,843 shares of the oil and gas company's stock, valued at approximately $1,805,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in Phillips 66 by 7.3% in the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company's stock worth $1,064,601,000 after acquiring an additional 639,323 shares during the last quarter. Geode Capital Management LLC increased its holdings in Phillips 66 by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company's stock valued at $968,844,000 after purchasing an additional 82,758 shares during the period. Norges Bank bought a new position in Phillips 66 during the 4th quarter valued at approximately $497,648,000. Invesco Ltd. grew its position in shares of Phillips 66 by 9.2% in the 4th quarter. Invesco Ltd. now owns 4,112,618 shares of the oil and gas company's stock worth $468,551,000 after buying an additional 347,905 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Phillips 66 by 9.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,014,113 shares of the oil and gas company's stock valued at $457,257,000 after buying an additional 357,705 shares during the period. Institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Down 2.0 %

Shares of Phillips 66 stock opened at $97.14 on Tuesday. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $159.25. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company's 50 day moving average is $117.81 and its 200 day moving average is $121.95. The company has a market cap of $39.58 billion, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the firm earned $3.09 EPS. Research analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a dividend of $1.20 per share. This is an increase from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.94%. Phillips 66's payout ratio is currently 93.12%.

Analyst Upgrades and Downgrades

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

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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