Stevens Capital Management LP Makes New $1.20 Million Investment in Phillips 66 $PSX

Stevens Capital Management LP acquired a new position in shares of Phillips 66 (NYSE:PSX) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 8,833 shares of the oil and gas company’s stock, valued at approximately $1,201,000.

Several other hedge funds have also made changes to their positions in PSX. Vanguard Group Inc. grew its holdings in Phillips 66 by 14.8% during the 2nd quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock worth $5,531,702,000 after acquiring an additional 5,978,841 shares in the last quarter. Norges Bank bought a new position in shares of Phillips 66 during the second quarter valued at approximately $523,755,000. Elliott Investment Management L.P. increased its holdings in Phillips 66 by 22.4% during the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock valued at $2,296,644,000 after buying an additional 3,526,000 shares during the period. Geode Capital Management LLC increased its holdings in Phillips 66 by 17.4% during the second quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock valued at $1,226,815,000 after buying an additional 1,532,967 shares during the period. Finally, Soundwatch Capital LLC bought a new position in Phillips 66 in the second quarter worth approximately $170,604,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Up 0.2%

PSX stock opened at $155.72 on Friday. The firm’s fifty day simple moving average is $141.98 and its 200-day simple moving average is $135.98. The company has a market capitalization of $62.74 billion, a P/E ratio of 14.39, a price-to-earnings-growth ratio of 0.54 and a beta of 0.90. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $163.79.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.15 by $0.32. The business had revenue of $32.16 billion for the quarter, compared to analyst estimates of $33.81 billion. Phillips 66 had a return on equity of 9.28% and a net margin of 3.22%.During the same quarter in the prior year, the firm posted ($0.15) EPS. As a group, equities research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd will be given a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 3.3%. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date is Monday, February 23rd. Phillips 66’s dividend payout ratio (DPR) is 44.36%.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,394 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total value of $659,100.00. Following the transaction, the executive vice president owned 25,799 shares in the company, valued at approximately $3,869,850. This trade represents a 14.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Brian Mandell sold 25,500 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the sale, the executive vice president directly owned 56,838 shares of the company’s stock, valued at approximately $7,959,593.52. This represents a 30.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,788 shares of company stock valued at $6,067,250 over the last ninety days. Insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PSX. The Goldman Sachs Group increased their target price on Phillips 66 from $152.00 to $164.00 and gave the company a “neutral” rating in a research report on Thursday, January 22nd. UBS Group restated a “buy” rating and set a $172.00 price objective on shares of Phillips 66 in a research note on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a research report on Thursday, January 22nd. Morgan Stanley boosted their target price on shares of Phillips 66 from $140.00 to $147.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Finally, Raymond James Financial increased their price target on shares of Phillips 66 from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Ten research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 presently has an average rating of “Hold” and an average target price of $160.11.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.