LSV Asset Management Has $114.90 Million Stock Holdings in Phillips 66 $PSX

LSV Asset Management reduced its position in shares of Phillips 66 (NYSE:PSX) by 40.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 844,728 shares of the oil and gas company’s stock after selling 579,898 shares during the period. LSV Asset Management owned about 0.21% of Phillips 66 worth $114,900,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Willis Johnson & Associates Inc. acquired a new stake in Phillips 66 during the 3rd quarter worth approximately $221,000. Allegheny Financial Group raised its stake in shares of Phillips 66 by 3.3% during the third quarter. Allegheny Financial Group now owns 2,490 shares of the oil and gas company’s stock valued at $339,000 after acquiring an additional 80 shares during the last quarter. Caprock Group LLC acquired a new position in shares of Phillips 66 during the third quarter worth $2,412,000. Endowment Wealth Management Inc. acquired a new position in shares of Phillips 66 during the third quarter worth $202,000. Finally, Krilogy Financial LLC bought a new stake in shares of Phillips 66 in the third quarter worth $1,923,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 3.3%

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

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

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be paid a dividend of $1.27 per share. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, February 23rd. Phillips 66’s payout ratio is currently 44.36%.

Insiders Place Their Bets

In other Phillips 66 news, EVP Brian Mandell sold 25,500 shares of Phillips 66 stock in a transaction on Monday, December 1st. The shares were sold at an average price of $140.04, for a total value of $3,571,020.00. Following the completion of the sale, the executive vice president directly owned 56,838 shares of the company’s stock, valued at approximately $7,959,593.52. The trade was a 30.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total transaction of $659,100.00. Following the transaction, the executive vice president owned 25,799 shares in the company, valued at $3,869,850. This represents a 14.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 60,488 shares of company stock valued at $8,474,466 over the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on PSX shares. Jefferies Financial Group raised their target price on Phillips 66 from $137.00 to $149.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. The Goldman Sachs Group increased their price target on Phillips 66 from $152.00 to $164.00 and gave the company a “neutral” rating in a research note on Thursday, January 22nd. Raymond James Financial raised their price objective on Phillips 66 from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Wall Street Zen lowered Phillips 66 from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Finally, Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average 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.