Payden & Rygel Has $19.16 Million Stake in Phillips 66 (PSX)


Payden & Rygel lifted its stake in shares of Phillips 66 (NYSE:PSX) by 46.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 199,700 shares of the oil and gas company’s stock after buying an additional 63,100 shares during the quarter. Phillips 66 makes up approximately 1.6% of Payden & Rygel’s portfolio, making the stock its 25th biggest position. Payden & Rygel’s holdings in Phillips 66 were worth $19,155,000 at the end of the most recent reporting period.


Several other institutional investors also recently made changes to their positions in PSX. Centaurus Financial Inc. purchased a new stake in Phillips 66 in the first quarter valued at approximately $107,000. Pin Oak Investment Advisors Inc. purchased a new stake in Phillips 66 in the fourth quarter valued at approximately $119,000. First Dallas Securities Inc. purchased a new stake in Phillips 66 in the fourth quarter valued at approximately $143,000. Truewealth LLC purchased a new stake in Phillips 66 in the fourth quarter valued at approximately $151,000. Finally, University of Texas Investment Managment Co. purchased a new stake in Phillips 66 in the fourth quarter valued at approximately $156,000. 77.73% of the stock is owned by institutional investors and hedge funds.


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Phillips 66 opened at $121.87 on Friday, Marketbeat Ratings reports. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $55.04 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 1.95 and a beta of 1.07. Phillips 66 has a fifty-two week low of $116.15 and a fifty-two week high of $118.00.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, April 27th. The oil and gas company reported $1.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.13. The company had revenue of $24.05 billion for the quarter, compared to analyst estimates of $29.23 billion. Phillips 66 had a return on equity of 10.00% and a net margin of 4.85%. During the same quarter in the prior year, the company earned $0.56 earnings per share. equities analysts predict that Phillips 66 will post 7.11 EPS for the current year.


The company also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Monday, May 21st will be issued a $0.80 dividend. This is a positive change from Phillips 66’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, May 18th. This represents a $3.20 annualized dividend and a yield of 2.63%. Phillips 66’s dividend payout ratio is 63.93%.

PSX has been the subject of a number of research reports. Cowen reiterated an “outperform” rating and issued a $137.00 price objective (up previously from $125.00) on shares of Phillips 66 in a research note on Wednesday, February 14th. Citigroup reduced their price objective on Phillips 66 from $110.00 to $103.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. JPMorgan Chase boosted their price objective on Phillips 66 from $108.00 to $109.00 and gave the company a “neutral” rating in a research note on Monday, April 9th. ValuEngine cut Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Finally, Piper Jaffray reiterated a “buy” rating and issued a $115.00 price objective on shares of Phillips 66 in a research note on Monday, January 22nd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. Phillips 66 presently has an average rating of “Hold” and a consensus target price of $106.19.


Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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