LSV Asset Management reduced its stake in Phillips 66 (NYSE:PSX – Free Report) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 837,349 shares of the oil and gas company’s stock after selling 7,379 shares during the period. LSV Asset Management’s holdings in Phillips 66 were worth $108,052,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the stock. GHP Investment Advisors Inc. raised its stake in shares of Phillips 66 by 2.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock valued at $414,000 after acquiring an additional 72 shares in the last quarter. L2 Asset Management LLC raised its stake in shares of Phillips 66 by 4.0% in the third quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock valued at $257,000 after acquiring an additional 72 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its stake in shares of Phillips 66 by 0.5% in the third quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company’s stock valued at $2,130,000 after acquiring an additional 73 shares in the last quarter. KCM Investment Advisors LLC raised its stake in shares of Phillips 66 by 1.6% in the third quarter. KCM Investment Advisors LLC now owns 4,636 shares of the oil and gas company’s stock valued at $631,000 after acquiring an additional 74 shares in the last quarter. Finally, Abacus Planning Group Inc. raised its stake in shares of Phillips 66 by 3.9% in the fourth quarter. Abacus Planning Group Inc. now owns 1,989 shares of the oil and gas company’s stock valued at $257,000 after acquiring an additional 74 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on PSX shares. Weiss Ratings cut Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Barclays increased their price objective on Phillips 66 from $158.00 to $177.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. The Goldman Sachs Group increased their price objective on Phillips 66 from $192.00 to $207.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Scotiabank increased their price objective on Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $187.11.
Insiders Place Their Bets
In other Phillips 66 news, CFO Kevin J. Mitchell sold 600 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $171.56, for a total value of $102,936.00. Following the sale, the chief financial officer directly owned 97,376 shares in the company, valued at $16,705,826.56. This trade represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brian Mandell sold 42,800 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $169.53, for a total value of $7,255,884.00. Following the transaction, the executive vice president directly owned 61,595 shares in the company, valued at approximately $10,442,200.35. The trade was a 41.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 114,029 shares of company stock valued at $19,641,455 in the last three months. Corporate insiders own 0.40% of the company’s stock.
Phillips 66 Stock Up 2.3%
Phillips 66 stock opened at $178.03 on Friday. Phillips 66 has a 1-year low of $111.19 and a 1-year high of $190.61. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The stock has a market cap of $71.38 billion, a PE ratio of 17.54, a P/E/G ratio of 0.26 and a beta of 0.70. The stock’s fifty day moving average is $172.12 and its two-hundred day moving average is $153.30.
Phillips 66 (NYSE:PSX – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. During the same period last year, the firm earned ($0.90) earnings per share. Phillips 66’s quarterly revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts expect that Phillips 66 will post 17.64 EPS for the current fiscal year.
Phillips 66 Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be paid a $1.27 dividend. The ex-dividend date is Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.9%. Phillips 66’s dividend payout ratio (DPR) is currently 50.05%.
Phillips 66 Profile
Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.
The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.
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