LSV Asset Management Raises Stake in Phillips 66 (NYSE:PSX)

LSV Asset Management lifted its position in shares of Phillips 66 (NYSE:PSX) by 2.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,967,536 shares of the oil and gas company’s stock after buying an additional 38,673 shares during the quarter. LSV Asset Management’s holdings in Phillips 66 were worth $261,958,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale boosted its holdings in shares of Phillips 66 by 12.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after purchasing an additional 22,278 shares during the last quarter. Eldred Rock Partners LLC acquired a new stake in Phillips 66 in the 4th quarter worth about $10,402,000. Choate Investment Advisors purchased a new stake in Phillips 66 in the 3rd quarter valued at about $247,000. First Dallas Securities Inc. acquired a new position in shares of Phillips 66 during the 3rd quarter valued at about $753,000. Finally, TIAA Trust National Association increased its stake in shares of Phillips 66 by 32.9% during the 4th quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock valued at $1,973,000 after acquiring an additional 3,670 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PSX. Scotiabank boosted their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Bank of America boosted their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. JPMorgan Chase & Co. increased their target price on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Mizuho reduced their target price on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Finally, Piper Sandler upped their price target on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.43.

Phillips 66 Stock Down 0.2 %

Shares of PSX stock traded down $0.26 during trading hours on Friday, reaching $143.61. The company had a trading volume of 1,806,203 shares, compared to its average volume of 2,353,122. The stock’s fifty day simple moving average is $155.55 and its 200 day simple moving average is $138.03. The company has a market capitalization of $60.88 billion, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.02 and a current ratio of 1.17. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data 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 firm had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period last year, the business earned $4.21 EPS. As a group, sell-side analysts expect that Phillips 66 will post 13.17 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a dividend of $1.15 per share. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 3.20%. Phillips 66’s payout ratio is 32.31%.

Insiders Place Their Bets

In other news, Director Robert W. Pease acquired 682 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was bought at an average cost of $146.58 per share, with a total value of $99,967.56. Following the transaction, the director now directly owns 1,900 shares in the company, valued at approximately $278,502. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Phillips 66 news, Director Robert W. Pease purchased 682 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the purchase, the director now owns 1,900 shares in the company, valued at approximately $278,502. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The disclosure for this sale can be found here. Insiders have sold 35,056 shares of company stock worth $5,272,681 in the last quarter. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Company 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.