Moment Partners LLC Makes New Investment in Phillips 66 (NYSE:PSX)

Moment Partners LLC bought a new stake in Phillips 66 (NYSE:PSX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,841 shares of the oil and gas company’s stock, valued at approximately $552,000.

A number of other institutional investors have also recently made changes to their positions in PSX. Raymond James Financial Inc. purchased a new position in shares of Phillips 66 in the fourth quarter worth about $168,790,000. Amundi raised its holdings in Phillips 66 by 25.7% in the 4th quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock valued at $428,081,000 after acquiring an additional 753,653 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Phillips 66 by 7.3% in the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after purchasing an additional 639,323 shares in the last quarter. Weiss Asset Management LP acquired a new position in shares of Phillips 66 during the 3rd quarter worth approximately $34,042,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $23,170,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PSX has been the topic of a number of analyst reports. Barclays lifted their price objective on Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Wells Fargo & Company boosted their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. Finally, Mizuho lowered their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $147.54.

Phillips 66 Stock Performance

Shares of PSX opened at $126.54 on Thursday. The company has a market capitalization of $51.59 billion, a price-to-earnings ratio of 25.61, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. Phillips 66 has a 52-week low of $108.91 and a 52-week high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock has a 50 day moving average price of $124.64 and a 200 day moving average price of $125.57.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter last year, the firm posted $3.09 earnings per share. Research analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s payout ratio is 93.12%.

About Phillips 66

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.