O Shaughnessy Asset Management LLC Has $24.38 Million Holdings in Phillips 66 $PSX

O Shaughnessy Asset Management LLC grew its stake in Phillips 66 (NYSE:PSX) by 19.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 188,953 shares of the oil and gas company’s stock after purchasing an additional 30,274 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Phillips 66 were worth $24,382,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Phillips 66 by 11.6% in the 3rd quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company’s stock valued at $7,035,574,000 after purchasing an additional 5,356,558 shares during the period. Norges Bank bought a new stake in shares of Phillips 66 during the 4th quarter worth $640,206,000. M&T Bank Corp raised its stake in shares of Phillips 66 by 462.9% during the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock worth $352,007,000 after purchasing an additional 2,243,268 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Phillips 66 by 424.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock worth $257,512,000 after buying an additional 1,532,389 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new position in Phillips 66 during the second quarter valued at about $107,967,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PSX. Wolfe Research raised their price target on shares of Phillips 66 from $187.00 to $193.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Scotiabank increased their price objective on Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Tudor Pickering raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Wall Street Zen lowered Phillips 66 from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Mizuho raised Phillips 66 from a “neutral” rating to an “outperform” rating and upped their price target for the company from $170.00 to $212.00 in a research report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $191.28.

Insider Transactions at Phillips 66

In other news, Director Kevin Omar Meyers bought 175 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was bought at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the transaction, the director directly owned 16,799 shares of the company’s stock, valued at $2,908,242.88. This represents a 1.05% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lisa Ann Davis sold 3,800 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $174.37, for a total transaction of $662,606.00. Following the completion of the sale, the director owned 8,701 shares of the company’s stock, valued at approximately $1,517,193.37. The trade was a 30.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 92,229 shares of company stock valued at $15,990,030 over the last quarter. 0.40% of the stock is owned by company insiders.

Phillips 66 Stock Performance

NYSE:PSX opened at $183.21 on Tuesday. The business’s fifty day moving average is $172.74 and its 200 day moving average is $156.62. The firm has a market cap of $73.46 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 0.27 and a beta of 0.68. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. Phillips 66 has a 52-week low of $114.54 and a 52-week high of $190.61.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. The business had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. Phillips 66’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.90) EPS. Research analysts predict that Phillips 66 will post 17.64 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were paid a dividend of $1.27 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $5.08 annualized dividend and a yield of 2.8%. Phillips 66’s payout ratio is 50.05%.

About Phillips 66

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.