LSV Asset Management Sells 579,898 Shares of Phillips 66 $PSX

LSV Asset Management lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 40.7% in the third quarter, HoldingsChannel.com reports. The firm owned 844,728 shares of the oil and gas company’s stock after selling 579,898 shares during the period. LSV Asset Management’s holdings in Phillips 66 were worth $114,900,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Elliott Investment Management L.P. raised its stake in shares of Phillips 66 by 22.4% in the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock worth $2,296,644,000 after purchasing an additional 3,526,000 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in Phillips 66 by 57.4% during the third quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company’s stock worth $7,734,000 after buying an additional 20,742 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in Phillips 66 by 5.0% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 209,700 shares of the oil and gas company’s stock worth $28,523,000 after buying an additional 10,000 shares in the last quarter. Vanguard Group Inc. raised its position in Phillips 66 by 14.8% in the 2nd quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock valued at $5,531,702,000 after buying an additional 5,978,841 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in Phillips 66 by 3.9% in the 2nd quarter. California Public Employees Retirement System now owns 696,577 shares of the oil and gas company’s stock valued at $83,102,000 after buying an additional 26,238 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other news, EVP Brian Mandell sold 25,500 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the transaction, the executive vice president owned 56,838 shares of the company’s stock, valued at $7,959,593.52. This represents a 30.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total value of $659,100.00. Following the transaction, the executive vice president owned 25,799 shares of the company’s stock, valued at $3,869,850. The trade was a 14.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 60,488 shares of company stock worth $8,474,466. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX stock opened at $156.20 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.23. The firm has a market cap of $62.94 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 0.57 and a beta of 0.90. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $163.79. The firm’s 50-day simple moving average is $139.99 and its two-hundred day simple moving average is $134.58.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.32. The company had revenue of $32.16 billion during the quarter, compared to analyst estimates of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.28%. During the same quarter last year, the business posted ($0.15) EPS. As a group, equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd will be given a $1.27 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, February 23rd. Phillips 66’s dividend payout ratio (DPR) is 44.36%.

Analysts Set New Price Targets

A number of research firms have issued reports on PSX. UBS Group reaffirmed a “buy” rating and set a $172.00 price objective on shares of Phillips 66 in a report on Friday, February 6th. Scotiabank restated a “sector perform” rating and set a $140.00 price target on shares of Phillips 66 in a report on Friday, January 16th. Wolfe Research increased their price objective on shares of Phillips 66 from $159.00 to $164.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Barclays lifted their target price on shares of Phillips 66 from $141.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Monday, January 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $157.18.

Phillips 66 Company Profile

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.