Phillips 66 $PSX Stock Holdings Boosted by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Phillips 66 by 0.7%, now owning over 1.5 million shares valued at approximately $191.7 million.
• Phillips 66 recently reported earnings of $2.38 per share for the last quarter, significantly exceeding analysts' expectations of $1.79.
• The company announced a quarterly dividend of $1.20 per share, reflecting a 3.6% yield and a high dividend payout ratio of 115.38%.

Jacobs Levy Equity Management Inc. lifted its stake in Phillips 66 (NYSE:PSX - Free Report) by 0.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,552,413 shares of the oil and gas company's stock after purchasing an additional 11,173 shares during the quarter. Phillips 66 comprises approximately 0.8% of Jacobs Levy Equity Management Inc.'s holdings, making the stock its 21st largest position. Jacobs Levy Equity Management Inc. owned 0.38% of Phillips 66 worth $191,692,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PSX. Elliott Investment Management L.P. grew its position in 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 buying an additional 14,950,000 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Phillips 66 by 20.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company's stock valued at $19,625,000 after acquiring an additional 26,825 shares during the last quarter. Alta Advisers Ltd purchased a new stake in shares of Phillips 66 in the first quarter valued at $253,000. Evergreen Wealth Solutions LLC purchased a new stake in shares of Phillips 66 in the first quarter valued at $292,000. Finally, Sustainable Insight Capital Management LLC purchased a new stake in shares of Phillips 66 in the first quarter valued at $1,457,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Gregory Hayes purchased 8,350 shares of the stock in a transaction dated Thursday, August 14th. The stock was acquired at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the acquisition, the director directly owned 29,423 shares in the company, valued at $3,527,817.70. This represents a 39.62% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total transaction of $571,090.00. Following the completion of the sale, the executive vice president owned 43,373 shares of the company's stock, valued at approximately $5,638,490. The trade was a 9.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have bought 9,850 shares of company stock worth $1,188,910. Insiders own 0.22% of the company's stock.

Phillips 66 Trading Down 0.1%

Shares of PSX traded down $0.14 during trading on Friday, reaching $131.44. 1,828,526 shares of the company traded hands, compared to its average volume of 1,933,730. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $140.60. The stock has a 50-day simple moving average of $126.26 and a 200-day simple moving average of $119.34. The stock has a market cap of $53.12 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 2.05 and a beta of 1.15. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The company had revenue of $33.77 billion during the quarter, compared to analysts' expectations of $32.11 billion. During the same quarter in the previous year, the business posted $2.31 EPS. On average, analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Tuesday, August 19th. Phillips 66's dividend payout ratio (DPR) is currently 115.38%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PSX. JPMorgan Chase & Co. set a $115.00 target price on shares of Phillips 66 in a research report on Wednesday, June 18th. Argus raised shares of Phillips 66 to a "strong-buy" rating in a research note on Thursday, July 31st. Bank of America cut shares of Phillips 66 from a "buy" rating to a "neutral" rating and increased their target price for the company from $144.00 to $147.00 in a research report on Wednesday. Scotiabank reiterated a "sector perform" rating and issued a $133.00 target price on shares of Phillips 66 in a research report on Friday, July 11th. Finally, Morgan Stanley raised their price objective on shares of Phillips 66 from $122.00 to $128.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $135.60.

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.