Brandywine Global Investment Management LLC Has $36.25 Million Stock Position in Phillips 66 $PSX

Key Points

• Brandywine Global Investment Management trimmed its Phillips 66 stake by 2.0% in the fourth quarter, but still held 280,896 shares valued at about $36.25 million.
• Phillips 66 reported Q1 earnings of $0.49 per share, beating analyst expectations, though revenue of $32.54 billion came in below estimates. The company also said revenue rose 6.9% year over year.
• The company recently paid a quarterly dividend of $1.27 per share, equal to an annualized yield of 2.8%, while analysts remain broadly positive with a Moderate Buy consensus and a target price of $191.28.

Brandywine Global Investment Management LLC decreased its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 280,896 shares of the oil and gas company's stock after selling 5,683 shares during the quarter. Brandywine Global Investment Management LLC owned 0.07% of Phillips 66 worth $36,247,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of PSX. Oppenheimer & Co. Inc. raised its position in shares of Phillips 66 by 57.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company's stock worth $7,734,000 after acquiring an additional 20,742 shares in the last quarter. First National Bank of Omaha bought a new position in shares of Phillips 66 during the 3rd quarter worth approximately $2,357,000. TD Asset Management Inc raised its position in shares of Phillips 66 by 15.5% in the 3rd quarter. TD Asset Management Inc now owns 174,413 shares of the oil and gas company's stock valued at $23,724,000 after purchasing an additional 23,364 shares during the last quarter. Caprock Group LLC acquired a new position in Phillips 66 during the 3rd quarter valued at approximately $2,412,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Phillips 66 by 18.2% in the third quarter. PNC Financial Services Group Inc. now owns 963,629 shares of the oil and gas company's stock worth $131,073,000 after purchasing an additional 148,129 shares during the last quarter. Institutional investors own 76.93% of the company's stock.

Phillips 66 Trading Up 0.1%

NYSE PSX opened at $183.30 on Monday. Phillips 66 has a one year low of $112.95 and a one year high of $190.61. The firm has a 50 day simple moving average of $172.76 and a 200-day simple moving average of $156.30. The firm has a market cap of $73.49 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 0.27 and a beta of 0.68. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same quarter in the prior year, the company earned ($0.90) earnings per share. The company's revenue was up 6.9% on a year-over-year basis. Equities research analysts anticipate that Phillips 66 will post 17.64 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, May 18th. Phillips 66's payout ratio is 50.05%.

Insiders Place Their Bets

In other Phillips 66 news, Director Kevin Omar Meyers purchased 175 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average cost of $173.12 per share, with a total value of $30,296.00. Following the completion of the acquisition, the director directly owned 16,799 shares of the company's stock, valued at $2,908,242.88. This trade represents a 1.05% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lisa Ann Davis sold 3,800 shares of Phillips 66 stock in a transaction on Friday, March 13th. The stock was sold at an average price of $174.37, for a total transaction of $662,606.00. Following the sale, the director owned 8,701 shares in the company, valued at $1,517,193.37. This represents a 30.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 92,229 shares of company stock valued at $15,990,030. 0.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on PSX shares. Wolfe Research upped their price objective on shares of Phillips 66 from $187.00 to $193.00 and gave the stock an "outperform" rating in a research report on Monday, April 6th. Wells Fargo & Company increased their price objective on Phillips 66 from $163.00 to $201.00 and gave the company an "overweight" rating in a research note on Tuesday, March 31st. Barclays upped their price target on Phillips 66 from $158.00 to $177.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 8th. Weiss Ratings cut shares of Phillips 66 from a "buy (b-)" rating to a "hold (c)" rating in a research report on Friday, May 1st. Finally, The Goldman Sachs Group raised their price target on shares of Phillips 66 from $192.00 to $207.00 and gave the stock a "neutral" rating in a report on Tuesday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of "Moderate Buy" and a consensus price target of $191.28.

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.

Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.