Rossby Financial LCC Purchases Shares of 3,340 Phillips 66 (NYSE:PSX)

Rossby Financial LCC bought a new stake in Phillips 66 (NYSE:PSX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,340 shares of the oil and gas company's stock, valued at approximately $381,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Bogart Wealth LLC raised its holdings in Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock worth $25,000 after acquiring an additional 120 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $25,000. Stephens Consulting LLC raised its stake in shares of Phillips 66 by 83.5% during the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 111 shares in the last quarter. Graney & King LLC acquired a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $28,000. Finally, Human Investing LLC bought a new position in shares of Phillips 66 in the fourth quarter valued at $30,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PSX. StockNews.com cut Phillips 66 from a "hold" rating to a "sell" rating in a research report on Sunday, March 2nd. Barclays cut their price objective on shares of Phillips 66 from $135.00 to $106.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. Wolfe Research upgraded Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price target for the company in a research note on Friday, January 3rd. The Goldman Sachs Group cut shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price for the company. in a research report on Thursday, March 27th. Finally, Wells Fargo & Company lifted their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Phillips 66 presently has an average rating of "Moderate Buy" and an average price target of $142.00.

Phillips 66 Price Performance

Shares of PSX stock traded up $2.31 on Friday, reaching $98.88. The company had a trading volume of 2,437,239 shares, compared to its average volume of 2,893,251. The business's 50-day moving average is $118.36 and its 200 day moving average is $122.44. Phillips 66 has a one year low of $91.01 and a one year 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 stock 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 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS 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 quarter in the prior year, the company posted $3.09 earnings per share. Equities research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced 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 of this dividend was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 4.65%. Phillips 66's payout ratio is presently 93.12%.

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.