266,183 Shares in Phillips 66 $PSX Purchased by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC acquired a new position in shares of Phillips 66 (NYSE:PSX) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 266,183 shares of the oil and gas company’s stock, valued at approximately $31,756,000. Brandywine Global Investment Management LLC owned approximately 0.07% of Phillips 66 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. WealthTrust Axiom LLC increased its position in shares of Phillips 66 by 1.1% during the first quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock worth $894,000 after purchasing an additional 81 shares in the last quarter. Wolff Wiese Magana LLC grew its holdings in shares of Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after buying an additional 82 shares in the last quarter. Magnus Financial Group LLC raised its position in shares of Phillips 66 by 2.8% in the second quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock valued at $368,000 after buying an additional 84 shares during the last quarter. Biltmore Wealth Management LLC lifted its stake in shares of Phillips 66 by 2.4% in the second quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock worth $431,000 after buying an additional 85 shares in the last quarter. Finally, XML Financial LLC boosted its position in Phillips 66 by 0.5% during the second quarter. XML Financial LLC now owns 17,541 shares of the oil and gas company’s stock worth $2,093,000 after acquiring an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In related news, EVP Brian Mandell sold 26,200 shares of Phillips 66 stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $137.68, for a total value of $3,607,216.00. Following the completion of the sale, the executive vice president owned 56,838 shares in the company, valued at approximately $7,825,455.84. This trade represents a 31.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $138.00, for a total value of $4,140,000.00. Following the completion of the sale, the chief financial officer directly owned 89,771 shares in the company, valued at approximately $12,388,398. The trade was a 25.05% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 64,986 shares of company stock worth $8,955,291. Insiders own 0.22% of the company’s stock.

Phillips 66 Stock Up 1.4%

Shares of NYSE:PSX opened at $133.78 on Friday. The company has a market capitalization of $53.90 billion, a price-to-earnings ratio of 36.55, a PEG ratio of 1.81 and a beta of 1.08. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $143.25. The business has a 50-day moving average price of $134.33 and a 200 day moving average price of $126.93. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The company had revenue of $33.69 billion during the quarter, compared to analyst estimates of $32.29 billion. During the same quarter last year, the firm posted $2.04 earnings per share. Sell-side analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.6%. Phillips 66’s dividend payout ratio (DPR) is presently 131.15%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Piper Sandler raised their target price on shares of Phillips 66 from $159.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, November 14th. UBS Group reiterated a “buy” rating and set a $160.00 price objective on shares of Phillips 66 in a research report on Monday, November 10th. Evercore ISI upped their target price on Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, September 19th. TD Cowen raised their target price on Phillips 66 from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Phillips 66 in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $145.71.

Phillips 66 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.