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

Key Points

• Dimensional Fund Advisors increased its Phillips 66 stake by 1.5% in the first quarter, buying 42,671 more shares and bringing its total holdings to 2.84 million shares worth about $517.4 million.
• Phillips 66 reported stronger-than-expected earnings for the latest quarter, posting $0.49 EPS versus a consensus estimate of a $0.54 loss, though revenue of $32.54 billion came in below expectations.
• The company also announced a quarterly dividend of $1.27 per share, and analysts remain broadly positive with an average rating of “Moderate Buy” and an average price target of $196.06.

Dimensional Fund Advisors LP raised its holdings in Phillips 66 (NYSE:PSX - Free Report) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,839,278 shares of the oil and gas company's stock after purchasing an additional 42,671 shares during the period. Dimensional Fund Advisors LP owned 0.71% of Phillips 66 worth $517,362,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. NFSG Corp grew its stake in Phillips 66 by 105.6% in the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company's stock valued at $27,000 after buying an additional 75 shares in the last quarter. Accordant Advisory Group Inc raised its holdings in Phillips 66 by 900.0% during the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company's stock valued at $26,000 after acquiring an additional 180 shares during the period. SWAN Capital LLC lifted its position in shares of Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company's stock worth $27,000 after acquiring an additional 190 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Phillips 66 during the fourth quarter worth $27,000. Finally, Stephens Consulting LLC boosted its holdings in shares of Phillips 66 by 67.7% in the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company's stock worth $29,000 after acquiring an additional 90 shares during the period. Institutional investors own 76.93% of the company's stock.

Phillips 66 Trading Up 1.0%

Phillips 66 stock opened at $208.85 on Tuesday. 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 has a fifty-two week low of $118.07 and a fifty-two week high of $211.05. The stock has a market cap of $83.73 billion, a P/E ratio of 20.58, a PEG ratio of 0.27 and a beta of 0.69. The firm's fifty day moving average price is $179.71 and its 200-day moving average price is $166.31.

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 (EPS) for the quarter, beating the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same quarter last year, the company earned ($0.90) earnings per share. The firm's quarterly revenue was up 6.9% on a year-over-year basis. Equities research analysts forecast that Phillips 66 will post 19.84 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.4%. Phillips 66's dividend payout ratio (DPR) is presently 50.05%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Raymond James Financial lifted their price target on Phillips 66 from $218.00 to $235.00 and gave the company an "outperform" rating in a research report on Monday, July 13th. Mizuho upgraded Phillips 66 from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $170.00 to $212.00 in a research note on Wednesday, May 27th. Citigroup lifted their target price on Phillips 66 from $183.00 to $204.00 and gave the company a "neutral" rating in a report on Tuesday, July 14th. Barclays upped their price target on Phillips 66 from $177.00 to $183.00 and gave the company an "equal weight" rating in a research report on Thursday, July 9th. Finally, UBS Group reissued a "buy" rating and issued a $212.00 price target on shares of Phillips 66 in a report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Phillips 66 currently has an average rating of "Moderate Buy" and an average price target of $196.06.

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Kevin Omar Meyers purchased 175 shares of the company's stock in a transaction dated Wednesday, May 6th. The stock was purchased at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the transaction, the director owned 16,799 shares in the company, valued at $2,908,242.88. The trade was a 1.05% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kevin J. Mitchell sold 11,021 shares of the business's stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the transaction, the chief financial officer directly owned 97,376 shares of the company's stock, valued at $18,504,361.28. The trade was a 10.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 41,021 shares of company stock valued at $7,195,257. Corporate insiders own 0.40% of the company's stock.

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.

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