Alpha DNA Investment Management LLC Increases Stake in Phillips 66 (NYSE:PSX)

Alpha DNA Investment Management LLC grew its position in Phillips 66 (NYSE:PSX) by 8.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,889 shares of the oil and gas company’s stock after purchasing an additional 233 shares during the period. Alpha DNA Investment Management LLC’s holdings in Phillips 66 were worth $380,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Strategic Financial Concepts LLC bought a new position in shares of Phillips 66 in the second quarter worth about $26,000. nVerses Capital LLC purchased a new stake in shares of Phillips 66 during the third quarter valued at about $26,000. Values First Advisors Inc. purchased a new position in shares of Phillips 66 in the 3rd quarter valued at approximately $30,000. Bank & Trust Co purchased a new position in shares of Phillips 66 in the 2nd quarter valued at approximately $31,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Phillips 66 in the 2nd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Phillips 66 stock opened at $133.27 on Monday. Phillips 66 has a one year low of $117.32 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The business has a fifty day moving average of $130.28 and a two-hundred day moving average of $135.27. The company has a market cap of $55.04 billion, a P/E ratio of 17.11, a price-to-earnings-growth ratio of 4.40 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating 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 company had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter last year, the company earned $4.63 earnings per share. Phillips 66’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, analysts predict that Phillips 66 will post 7.57 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is currently 59.05%.

Analyst Ratings Changes

A number of research firms have issued reports on PSX. Scotiabank reduced their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Bank of America initiated coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target on the stock. UBS Group lowered their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Mizuho lowered their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.