Gabelli Funds LLC Lowers Position in Phillips 66 (NYSE:PSX)

Gabelli Funds LLC lowered its position in Phillips 66 (NYSE:PSXGet Rating) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 192,200 shares of the oil and gas company’s stock after selling 15,000 shares during the period. Gabelli Funds LLC’s holdings in Phillips 66 were worth $13,927,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PSX. Geode Capital Management LLC boosted its stake in shares of Phillips 66 by 2.6% in the third quarter. Geode Capital Management LLC now owns 7,654,777 shares of the oil and gas company’s stock valued at $534,583,000 after buying an additional 195,288 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Phillips 66 by 5.6% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,626,638 shares of the oil and gas company’s stock worth $534,094,000 after purchasing an additional 402,779 shares during the period. Morgan Stanley increased its holdings in shares of Phillips 66 by 13.0% in the 3rd quarter. Morgan Stanley now owns 3,877,915 shares of the oil and gas company’s stock valued at $271,571,000 after purchasing an additional 446,011 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Phillips 66 by 1.1% in the third quarter. Dimensional Fund Advisors LP now owns 3,322,508 shares of the oil and gas company’s stock valued at $232,680,000 after purchasing an additional 37,530 shares during the period. Finally, Invesco Ltd. boosted its holdings in Phillips 66 by 9.3% during the third quarter. Invesco Ltd. now owns 3,286,147 shares of the oil and gas company’s stock worth $230,130,000 after buying an additional 278,290 shares in the last quarter. 64.28% of the stock is currently owned by institutional investors.

A number of equities research analysts recently weighed in on the company. Citigroup initiated coverage on Phillips 66 in a report on Tuesday, April 26th. They issued a “neutral” rating and a $89.00 price target on the stock. TheStreet raised Phillips 66 from a “c+” rating to a “b” rating in a research note on Wednesday, February 23rd. Bank of America raised their target price on shares of Phillips 66 from $97.00 to $104.00 and gave the company a “buy” rating in a report on Monday, January 31st. StockNews.com raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Thursday, May 5th. Finally, Wells Fargo & Company raised their price objective on shares of Phillips 66 from $103.00 to $114.00 in a research note on Monday, May 2nd. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Phillips 66 presently has a consensus rating of “Buy” and an average target price of $98.29.

Shares of PSX stock opened at $93.79 on Monday. The firm has a market cap of $45.12 billion, a P/E ratio of 16.34, a PEG ratio of 0.92 and a beta of 1.40. Phillips 66 has a 1-year low of $63.19 and a 1-year high of $98.66. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.13 and a quick ratio of 0.87. The firm’s 50-day simple moving average is $86.29 and its 200-day simple moving average is $81.97.

Phillips 66 (NYSE:PSXGet Rating) last issued its quarterly earnings results on Friday, April 29th. The oil and gas company reported $1.32 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.52). Phillips 66 had a return on equity of 17.07% and a net margin of 1.97%. During the same quarter last year, the business posted ($1.16) EPS. Analysts expect that Phillips 66 will post 9.4 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Investors of record on Monday, May 23rd will be issued a $0.97 dividend. The ex-dividend date of this dividend is Friday, May 20th. This represents a $3.88 dividend on an annualized basis and a yield of 4.14%. This is a boost from Phillips 66’s previous quarterly dividend of $0.92. Phillips 66’s dividend payout ratio (DPR) is presently 64.11%.

Phillips 66 Company Profile (Get Rating)

Phillips 66 operates as an energy manufacturing and logistics company. 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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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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