Holocene Advisors LP Makes New Investment in Phillips 66 (NYSE:PSX)

Holocene Advisors LP purchased a new stake in Phillips 66 (NYSE:PSX) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 48,585 shares of the oil and gas company’s stock, valued at approximately $6,386,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. DNB Asset Management AS purchased a new position in Phillips 66 in the 2nd quarter valued at approximately $249,000. CWM LLC raised its stake in shares of Phillips 66 by 0.9% during the 2nd quarter. CWM LLC now owns 23,268 shares of the oil and gas company’s stock worth $3,285,000 after buying an additional 203 shares during the last quarter. Contravisory Investment Management Inc. boosted its position in shares of Phillips 66 by 14.5% in the 2nd quarter. Contravisory Investment Management Inc. now owns 1,906 shares of the oil and gas company’s stock worth $269,000 after buying an additional 242 shares in the last quarter. Simplicity Wealth LLC grew its stake in Phillips 66 by 3.5% in the 2nd quarter. Simplicity Wealth LLC now owns 8,924 shares of the oil and gas company’s stock valued at $1,260,000 after acquiring an additional 301 shares during the last quarter. Finally, Fortitude Family Office LLC increased its holdings in Phillips 66 by 52.3% during the 2nd quarter. Fortitude Family Office LLC now owns 265 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 91 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $134.44 on Wednesday. The business’s fifty day moving average price is $130.88 and its 200 day moving average price is $134.68. Phillips 66 has a twelve month low of $119.77 and a twelve month high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $55.52 billion, a P/E ratio of 17.26, a PEG ratio of 4.45 and a beta of 1.35.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter in the previous year, the business earned $4.63 EPS. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. As a group, research analysts anticipate that Phillips 66 will post 7.66 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend was Monday, November 18th. Phillips 66’s dividend payout ratio is presently 59.05%.

Wall Street Analysts Forecast Growth

PSX has been the topic of several research reports. Mizuho lowered their price target on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Bank of America started coverage on Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. UBS Group cut their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, Morgan Stanley decreased their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $149.69.

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.