Vanguard Group Inc. Grows Stock Holdings in Phillips 66 $PSX

Key Points

• Vanguard Group raised its stake in Phillips 66 by 0.4% in Q4 to 51,930,038 shares, equal to a 12.89% ownership position worth about $6.70 billion.
• In the most recent quarter Phillips 66 reported EPS of $2.47 (beating estimates) and revenue of $32.16 billion, and it announced a quarterly dividend of $1.27 ($5.08 annual, ~3.1% yield) with an ex-dividend date of May 18.
• Despite several firms lifting price targets, the analyst consensus remains a "Hold" with a consensus target price of $181.33.

Vanguard Group Inc. raised its holdings in Phillips 66 (NYSE:PSX - Free Report) by 0.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 51,930,038 shares of the oil and gas company's stock after acquiring an additional 205,480 shares during the period. Vanguard Group Inc. owned 12.89% of Phillips 66 worth $6,701,052,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PSX. Board of the Pension Protection Fund purchased a new stake in shares of Phillips 66 in the fourth quarter valued at $26,000. Accordant Advisory Group Inc lifted its position in Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company's stock worth $26,000 after buying an additional 180 shares during the period. Eagle Bay Advisors LLC acquired a new stake in Phillips 66 in the 4th quarter worth about $27,000. Stephens Consulting LLC boosted its stake in Phillips 66 by 67.7% in the 4th quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company's stock worth $29,000 after buying an additional 90 shares during the last quarter. Finally, Dorato Capital Management purchased a new stake in 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.

Analyst Upgrades and Downgrades

PSX has been the topic of several recent analyst reports. Raymond James Financial increased their price objective on shares of Phillips 66 from $175.00 to $205.00 and gave the stock an "outperform" rating in a report on Wednesday, March 25th. Morgan Stanley upped their price target on shares of Phillips 66 from $140.00 to $147.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 5th. Piper Sandler increased their price target on shares of Phillips 66 from $168.00 to $177.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 8th. The Goldman Sachs Group lifted their price target on shares of Phillips 66 from $186.00 to $192.00 and gave the company a "neutral" rating in a report on Friday, April 10th. Finally, Mizuho upped their price objective on Phillips 66 from $152.00 to $170.00 and gave the stock a "neutral" rating in a report on Tuesday, March 17th. Eleven analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $181.33.

Phillips 66 Stock Down 0.0%

Shares of NYSE:PSX opened at $162.83 on Monday. The stock has a 50-day simple moving average of $166.67 and a 200-day simple moving average of $148.12. The stock has a market capitalization of $65.25 billion, a P/E ratio of 15.05, a PEG ratio of 0.30 and a beta of 0.76. Phillips 66 has a 1 year low of $101.54 and a 1 year high of $190.61. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.91 and a current ratio of 1.30.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.15 by $0.32. The firm had revenue of $32.16 billion for the quarter, compared to analyst estimates of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. During the same quarter last year, the firm posted ($0.15) earnings per share. Equities analysts forecast that Phillips 66 will post 14.12 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, May 18th. Phillips 66's dividend payout ratio (DPR) is currently 46.95%.

Insiders Place Their Bets

In related news, EVP Brian Mandell sold 42,800 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $169.53, for a total value of $7,255,884.00. Following the completion of the sale, the executive vice president directly owned 61,595 shares in the company, valued at approximately $10,442,200.35. This represents a 41.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Don Baldridge sold 7,500 shares of the firm's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total value of $1,200,000.00. Following the completion of the transaction, the executive vice president directly owned 38,488 shares in the company, valued at $6,158,080. This trade represents a 16.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 95,923 shares of company stock worth $16,399,619. 0.40% of the stock is owned by company insiders.

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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