Jacobs Levy Equity Management Inc. Has $175.59 Million Stock Position in Phillips 66 (NYSE:PSX)

Jacobs Levy Equity Management Inc. raised its position in shares of Phillips 66 (NYSE:PSX) by 157.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,541,240 shares of the oil and gas company’s stock after purchasing an additional 942,922 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.37% of Phillips 66 worth $175,593,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Bogart Wealth LLC lifted its stake in shares of Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 120 shares during the period. J.Safra Asset Management Corp acquired a new position in Phillips 66 in the fourth quarter valued at approximately $25,000. Stephens Consulting LLC boosted its holdings 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 buying an additional 111 shares in the last quarter. Graney & King LLC acquired a new stake in shares of Phillips 66 during the 4th quarter worth approximately $28,000. Finally, Human Investing LLC acquired a new position in shares of Phillips 66 during the 4th quarter valued at $30,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 1.5 %

Shares of NYSE:PSX opened at $110.86 on Friday. The company has a market cap of $45.17 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 4.84 and a beta of 1.01. Phillips 66 has a one year low of $91.01 and a one year high of $150.12. The firm has a fifty day moving average price of $111.61 and a two-hundred day moving average price of $119.31. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The company had revenue of $31.92 billion during the quarter, compared to analysts’ expectations of $31.93 billion. 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 business earned $1.90 earnings per share. Analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a dividend of $1.20 per share. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date is Monday, May 19th. Phillips 66’s dividend payout ratio (DPR) is presently 109.34%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Raymond James decreased their target price on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Barclays cut their target price on Phillips 66 from $135.00 to $106.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. TD Cowen reduced their price target on shares of Phillips 66 from $127.00 to $114.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Wells Fargo & Company dropped their price objective on shares of Phillips 66 from $162.00 to $149.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Finally, UBS Group decreased their target price on shares of Phillips 66 from $144.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $136.36.

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.