Phillips 66 (NYSE:PSX) Sees Large Growth in Short Interest

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Phillips 66 (NYSE:PSX) saw a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 5,987,000 shares, a growth of 17.4% from the May 30th total of 5,099,200 shares. Approximately 1.3% of the shares of the stock are sold short. Based on an average daily volume of 2,740,000 shares, the short-interest ratio is presently 2.2 days.

PSX stock opened at $100.33 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.84 and a current ratio of 1.31. The firm has a market capitalization of $45.50 billion, a PE ratio of 8.57, a P/E/G ratio of 2.13 and a beta of 1.08. The stock’s 50 day moving average is $88.87. Phillips 66 has a 52 week low of $78.44 and a 52 week high of $123.97.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.34 by $0.06. The business had revenue of $23.66 billion during the quarter, compared to analysts’ expectations of $24.66 billion. Phillips 66 had a net margin of 4.63% and a return on equity of 19.96%. During the same period last year, the company posted $1.04 earnings per share. On average, analysts predict that Phillips 66 will post 7.24 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Monday, August 19th. Phillips 66’s dividend payout ratio (DPR) is presently 30.74%.

In other news, Director John E. Lowe bought 2,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were acquired at an average cost of $82.91 per share, with a total value of $165,820.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.13% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Phillips 66 in the 4th quarter valued at $386,757,000. LSV Asset Management lifted its position in Phillips 66 by 43.3% during the 1st quarter. LSV Asset Management now owns 4,589,195 shares of the oil and gas company’s stock valued at $436,753,000 after purchasing an additional 1,387,767 shares during the period. AQR Capital Management LLC lifted its position in Phillips 66 by 54.9% during the 1st quarter. AQR Capital Management LLC now owns 3,332,763 shares of the oil and gas company’s stock valued at $315,479,000 after purchasing an additional 1,181,277 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Phillips 66 by 7.6% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,645,296 shares of the oil and gas company’s stock valued at $1,175,542,000 after purchasing an additional 958,545 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Phillips 66 by 61.1% in the 4th quarter. Millennium Management LLC now owns 2,141,445 shares of the oil and gas company’s stock valued at $184,485,000 after acquiring an additional 811,879 shares during the last quarter. 69.99% of the stock is currently owned by institutional investors.

Several research firms have recently weighed in on PSX. Raymond James downgraded shares of First Midwest Bancorp to a “hold” rating in a research report on Monday, July 8th. Citigroup lifted their target price on shares of from GBX 1,300 ($16.99) to GBX 1,450 ($18.95) and gave the stock a “buy” rating in a research report on Friday, June 21st. ValuEngine raised shares of Zogenix from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 27th. Bank of America reissued a “buy” rating and issued a $420.00 target price (up from $400.00) on shares of Lendingtree in a research report on Monday, April 29th. Finally, Morgan Stanley reissued an “overweight” rating and issued a GBX 460 ($6.01) target price on shares of Sophos Group in a research report on Friday, May 17th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $117.82.

About Phillips 66

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; provides terminaling and storage services for crude oil and 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.

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