LSV Asset Management Has $169.96 Million Stock Holdings in Phillips 66 $PSX

LSV Asset Management lowered its stake in Phillips 66 (NYSE:PSX) by 5.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,424,626 shares of the oil and gas company’s stock after selling 89,900 shares during the period. LSV Asset Management owned 0.35% of Phillips 66 worth $169,958,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Elliott Investment Management L.P. boosted its stake in shares of Phillips 66 by 1,929.0% during the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after purchasing an additional 14,950,000 shares in the last quarter. Chronos Wealth Management LLC acquired a new stake in Phillips 66 during the 2nd quarter worth approximately $281,000. Sustainable Insight Capital Management LLC bought a new stake in Phillips 66 during the 1st quarter worth approximately $1,457,000. Evergreen Wealth Solutions LLC acquired a new position in Phillips 66 in the 1st quarter valued at approximately $292,000. Finally, Jump Financial LLC increased its position in Phillips 66 by 307.1% in the 1st quarter. Jump Financial LLC now owns 11,276 shares of the oil and gas company’s stock valued at $1,392,000 after acquiring an additional 8,506 shares during the period. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the topic of several analyst reports. Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $154.00 to $162.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Wall Street Zen raised Phillips 66 from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. UBS Group reissued a “buy” rating and issued a $160.00 price target on shares of Phillips 66 in a research note on Monday, November 10th. Argus raised Phillips 66 to a “strong-buy” rating in a research note on Thursday, July 31st. Finally, BMO Capital Markets upped their target price on Phillips 66 from $152.00 to $160.00 in a report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $145.18.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction on Friday, November 7th. The shares were sold at an average price of $138.00, for a total value of $4,140,000.00. Following the completion of the sale, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. The trade was a 25.05% 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 4,393 shares of the stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the transaction, the executive vice president directly owned 34,587 shares in the company, valued at $4,842,180. This trade represents a 11.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 38,786 shares of company stock valued at $5,348,075. Insiders own 0.22% of the company’s stock.

Phillips 66 Trading Up 2.0%

NYSE PSX opened at $142.27 on Monday. The business has a 50 day simple moving average of $133.96 and a 200 day simple moving average of $126.19. Phillips 66 has a one year low of $91.01 and a one year high of $143.25. The stock has a market capitalization of $57.33 billion, a P/E ratio of 38.87, a P/E/G ratio of 1.81 and a beta of 1.08. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.38. The firm had revenue of $33.69 billion for the quarter, compared to analyst estimates of $32.29 billion. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.During the same period in the previous year, the firm earned $2.04 earnings per share. Research analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 3.4%. Phillips 66’s dividend payout ratio is currently 131.15%.

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.