Phillips 66 $PSX Shares Sold by LSV Asset Management

Key Points

• LSV Asset Management slightly trimmed its Phillips 66 position in the fourth quarter, selling 7,379 shares and ending with 837,349 shares worth about $108.1 million.
• Phillips 66 reported better-than-expected Q1 earnings of $0.49 per share, though revenue of $32.54 billion fell short of analyst estimates.
• The company announced a quarterly dividend of $1.27 per share, equal to an annualized yield of 2.9%, while analysts currently rate the stock a Moderate Buy on average.

LSV Asset Management lessened its stake in Phillips 66 (NYSE:PSX - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 837,349 shares of the oil and gas company's stock after selling 7,379 shares during the quarter. LSV Asset Management owned 0.21% of Phillips 66 worth $108,052,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Board of the Pension Protection Fund purchased a new position in shares of Phillips 66 in the 4th quarter valued at about $26,000. Accordant Advisory Group Inc increased its stake in shares of Phillips 66 by 900.0% in the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company's stock valued at $26,000 after purchasing an additional 180 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Phillips 66 in the 4th quarter valued at about $27,000. Stephens Consulting LLC increased its stake in shares of Phillips 66 by 67.7% in the 4th quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company's stock valued at $29,000 after purchasing an additional 90 shares in the last quarter. Finally, Dorato Capital Management purchased a new position in shares of Phillips 66 in the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Price Performance

NYSE:PSX opened at $178.03 on Friday. Phillips 66 has a one year low of $111.19 and a one year high of $190.61. The stock has a market cap of $71.38 billion, a PE ratio of 17.54, a P/E/G ratio of 0.26 and a beta of 0.70. The stock has a 50 day moving average price of $172.12 and a 200 day moving average price of $153.30. 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 issued its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.54) by $1.03. The company had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.90) earnings per share. Equities research analysts expect that Phillips 66 will post 17.64 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be given a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, May 18th. Phillips 66's dividend payout ratio is presently 50.05%.

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Lisa Ann Davis sold 3,800 shares of the company's 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 transaction, the director directly 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin J. Mitchell sold 29,400 shares of the company's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $170.00, for a total value of $4,998,000.00. Following the transaction, the chief financial officer owned 97,376 shares in the company, valued at $16,553,920. This trade represents a 23.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 114,029 shares of company stock valued at $19,641,455 over the last three months. 0.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PSX shares. Zacks Research upgraded Phillips 66 from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 27th. The Goldman Sachs Group lifted their price target on Phillips 66 from $192.00 to $207.00 and gave the company a "neutral" rating in a research note on Tuesday. Mizuho lifted their price target on Phillips 66 from $152.00 to $170.00 and gave the company a "neutral" rating in a research note on Tuesday, March 17th. JPMorgan Chase & Co. lifted their price target on Phillips 66 from $188.00 to $202.00 in a research note on Thursday, April 30th. Finally, Scotiabank lifted their price target on Phillips 66 from $140.00 to $151.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 22nd. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $187.11.

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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