Rafferty Asset Management LLC Has $16.73 Million Stake in Phillips 66 (NYSE:PSX)

Rafferty Asset Management LLC lifted its position in shares of Phillips 66 (NYSE:PSX) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 146,836 shares of the oil and gas company’s stock after acquiring an additional 895 shares during the quarter. Rafferty Asset Management LLC’s holdings in Phillips 66 were worth $16,729,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings in shares of Phillips 66 by 7.3% during the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock valued at $1,064,601,000 after acquiring an additional 639,323 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Phillips 66 by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company’s stock valued at $968,844,000 after acquiring an additional 82,758 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Phillips 66 by 283.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock valued at $686,618,000 after acquiring an additional 4,455,220 shares in the last quarter. Northern Trust Corp raised its position in Phillips 66 by 10.6% during the 4th quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company’s stock worth $522,834,000 after purchasing an additional 440,107 shares during the last quarter. Finally, Norges Bank bought a new position in Phillips 66 during the 4th quarter worth $497,648,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on PSX shares. Raymond James lowered their target price on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Mizuho raised their target price on Phillips 66 from $132.00 to $138.00 and gave the stock a “neutral” rating in a research report on Tuesday. Scotiabank lowered their target price on Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. lowered their target price on Phillips 66 from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Tuesday, April 29th. Finally, StockNews.com raised Phillips 66 from a “sell” rating to a “hold” rating in a research report on Monday, April 28th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $137.86.

Phillips 66 Stock Performance

PSX stock opened at $124.88 on Friday. The stock has a 50-day moving average price of $111.57 and a 200-day moving average price of $119.23. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12. 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 firm has a market cap of $50.88 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The business had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. During the same period last year, the business posted $1.90 earnings per share. As a group, equities research analysts expect 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 Monday, June 2nd. Investors of record on Monday, May 19th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.84%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date is Monday, May 19th. Phillips 66’s payout ratio is presently 109.34%.

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.