GAMMA Investing LLC Invests $653,000 in Phillips 66 (NYSE:PSX)

GAMMA Investing LLC purchased a new position in Phillips 66 (NYSE:PSX) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 4,525 shares of the oil and gas company’s stock, valued at approximately $653,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PSX. International Assets Investment Management LLC acquired a new position in shares of Phillips 66 in the 4th quarter worth approximately $254,336,000. Bank of New York Mellon Corp increased its stake in shares of Phillips 66 by 12.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,570,590 shares of the oil and gas company’s stock valued at $549,156,000 after acquiring an additional 502,785 shares in the last quarter. Bahl & Gaynor Inc. increased its stake in shares of Phillips 66 by 41.2% in the 3rd quarter. Bahl & Gaynor Inc. now owns 1,506,861 shares of the oil and gas company’s stock valued at $181,049,000 after acquiring an additional 439,360 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Phillips 66 by 1,038.3% in the 3rd quarter. Acadian Asset Management LLC now owns 472,208 shares of the oil and gas company’s stock valued at $56,720,000 after acquiring an additional 430,723 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Phillips 66 by 53.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,214,738 shares of the oil and gas company’s stock valued at $145,951,000 after acquiring an additional 421,714 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Buying and Selling

In related news, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $3,648,120.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on PSX. Raymond James lifted their price objective on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. StockNews.com lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th. Bank of America boosted their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Barclays boosted their price target on shares of Phillips 66 from $139.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $158.00.

Phillips 66 Stock Down 0.9 %

PSX traded down $1.40 during mid-day trading on Wednesday, reaching $157.44. 731,705 shares of the stock were exchanged, compared to its average volume of 2,948,912. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. The stock has a market capitalization of $67.36 billion, a PE ratio of 10.27, a price-to-earnings-growth ratio of 1.95 and a beta of 1.37. The company has a 50 day moving average price of $154.93 and a two-hundred day moving average price of $136.31. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. The company had revenue of $38.74 billion for the quarter, compared to the consensus estimate of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. As a group, research analysts anticipate that Phillips 66 will post 13.45 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a $1.15 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Friday, May 17th. Phillips 66’s payout ratio is 27.15%.

Phillips 66 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.