Headlands Technologies LLC Purchases Shares of 1,563 Phillips 66 (NYSE:PSX)

Headlands Technologies LLC acquired a new position in shares of Phillips 66 (NYSE:PSX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,563 shares of the oil and gas company’s stock, valued at approximately $178,000.

Several other institutional investors have also modified their holdings of the stock. Lokken Investment Group LLC lifted its position in Phillips 66 by 2.4% in the fourth quarter. Lokken Investment Group LLC now owns 9,272 shares of the oil and gas company’s stock valued at $1,056,000 after acquiring an additional 219 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Phillips 66 by 1.0% in 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 purchasing an additional 82,758 shares during the last quarter. Nemes Rush Group LLC boosted its position in shares of Phillips 66 by 29.8% in the 4th quarter. Nemes Rush Group LLC now owns 2,104 shares of the oil and gas company’s stock valued at $240,000 after purchasing an additional 483 shares during the period. National Bank of Canada FI grew its stake in Phillips 66 by 166.7% during the 4th quarter. National Bank of Canada FI now owns 1,134,582 shares of the oil and gas company’s stock worth $129,266,000 after buying an additional 709,219 shares during the last quarter. Finally, Rodgers Brothers Inc. increased its position in Phillips 66 by 2.9% during the fourth quarter. Rodgers Brothers Inc. now owns 49,413 shares of the oil and gas company’s stock worth $5,630,000 after buying an additional 1,400 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $98.65 on Friday. The firm’s fifty day simple moving average is $124.24 and its 200-day simple moving average is $125.13. 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 market cap of $40.22 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17. Phillips 66 has a fifty-two week low of $95.67 and a fifty-two week high of $171.41.

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 analysts’ consensus estimates 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 in the previous year, the firm earned $3.09 earnings per share. Analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a dividend of $1.15 per share. The ex-dividend date was Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 4.66%. Phillips 66’s dividend payout ratio is presently 93.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PSX shares. The Goldman Sachs Group downgraded Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective for the company. in a report on Thursday, March 27th. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a report on Friday, January 3rd. Barclays boosted their target price on Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Finally, Wells Fargo & Company increased their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $146.43.

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.