Dimensional Fund Advisors LP Purchases 42,671 Shares of Phillips 66 $PSX

Dimensional Fund Advisors LP lifted its position in Phillips 66 (NYSE:PSX) by 1.5% in the first quarter, Holdings Channel.com reports. The firm owned 2,839,278 shares of the oil and gas company’s stock after purchasing an additional 42,671 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Phillips 66 were worth $517,362,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of PSX. Scarborough Advisors LLC bought a new position in Phillips 66 during the first quarter valued at approximately $205,000. Parallel Advisors LLC lifted its holdings in shares of Phillips 66 by 4.5% in the 1st quarter. Parallel Advisors LLC now owns 11,037 shares of the oil and gas company’s stock worth $2,011,000 after acquiring an additional 480 shares during the last quarter. Resolute Wealth Strategies LLC purchased a new stake in shares of Phillips 66 in the 1st quarter valued at $234,000. Greenwood Gearhart LLC bought a new position in shares of Phillips 66 during the 1st quarter valued at $326,000. Finally, Swiss National Bank raised its position in Phillips 66 by 6.8% in the 1st quarter. Swiss National Bank now owns 1,182,450 shares of the oil and gas company’s stock worth $215,419,000 after purchasing an additional 75,100 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Kevin J. Mitchell sold 29,400 shares of Phillips 66 stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,553,920. This trade represents a 23.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin Omar Meyers purchased 175 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was bought at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the transaction, the director owned 16,799 shares in the company, valued at approximately $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 41,021 shares of company stock valued at $7,195,257 in the last ninety days. Insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on PSX shares. Citigroup boosted their price target on shares of Phillips 66 from $183.00 to $204.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. The Goldman Sachs Group raised their target price on Phillips 66 from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 19th. Barclays boosted their price objective on shares of Phillips 66 from $177.00 to $183.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Guggenheim upgraded shares of Phillips 66 to an “outperform” rating in a report on Wednesday, May 27th. Finally, Wells Fargo & Company lifted their price objective on Phillips 66 from $163.00 to $201.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $196.06.

Phillips 66 Stock Performance

Shares of PSX stock opened at $208.85 on Tuesday. The company’s fifty day moving average price is $179.71 and its 200-day moving average price is $166.31. The stock has a market cap of $83.73 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 0.27 and a beta of 0.69. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. Phillips 66 has a 12 month low of $118.07 and a 12 month high of $211.05.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same period last year, the business earned ($0.90) EPS. Phillips 66’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities analysts expect that Phillips 66 will post 19.84 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s dividend 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.