Phillips 66 (NYSE:PSX) Shares Acquired by LSV Asset Management

LSV Asset Management lifted its position in Phillips 66 (NYSE:PSX) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,967,536 shares of the oil and gas company’s stock after acquiring an additional 38,673 shares during the period. LSV Asset Management owned 0.45% of Phillips 66 worth $261,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in Phillips 66 during the fourth quarter worth about $254,336,000. Bank of New York Mellon Corp boosted its holdings in shares of Phillips 66 by 12.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,570,590 shares of the oil and gas company’s stock worth $549,156,000 after purchasing an additional 502,785 shares during the last quarter. Bahl & Gaynor Inc. grew its position in shares of Phillips 66 by 41.2% in the third quarter. Bahl & Gaynor Inc. now owns 1,506,861 shares of the oil and gas company’s stock valued at $181,049,000 after purchasing an additional 439,360 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Phillips 66 by 1,038.3% in the third quarter. Acadian Asset Management LLC now owns 472,208 shares of the oil and gas company’s stock valued at $56,720,000 after purchasing an additional 430,723 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Phillips 66 by 53.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,214,738 shares of the oil and gas company’s stock worth $145,951,000 after buying an additional 421,714 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PSX shares. Wells Fargo & Company raised their target price on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Citigroup initiated coverage on shares of Phillips 66 in a research note on Wednesday, January 24th. They set a “buy” rating on the stock. Mizuho dropped their price target on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Bank of America lifted their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. increased their price objective on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $157.43.

Phillips 66 Trading Down 0.2 %

PSX traded down $0.26 during mid-day trading on Friday, hitting $143.61. 1,806,203 shares of the stock were exchanged, compared to its average volume of 2,353,122. The firm’s fifty day moving average is $155.55 and its two-hundred day moving average is $138.03. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08. The company has a market cap of $60.88 billion, a PE ratio of 11.05, a PEG ratio of 1.82 and a beta of 1.41. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The business had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same period in the prior year, the company posted $4.21 EPS. Equities analysts forecast that Phillips 66 will post 13.17 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio (DPR) is currently 32.31%.

Insiders Place Their Bets

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the sale, the vice president now directly owns 6,583 shares in the company, valued at $1,035,242.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the sale, the vice president now owns 6,583 shares in the company, valued at $1,035,242.58. The disclosure for this sale can be found here. Insiders sold a total of 35,056 shares of company stock worth $5,272,681 over the last 90 days. Corporate insiders own 0.22% of the company’s stock.

About Phillips 66

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.