Vanguard Personalized Indexing Management LLC Has $8.46 Million Position in Phillips 66 $PSX

Key Points

• Vanguard Personalized Indexing Management LLC boosted its Phillips 66 stake by 16.5% in the fourth quarter, ending with 65,533 shares valued at about $8.46 million.
• Phillips 66 saw continued institutional buying, with Vanguard Group, Norges Bank, M&T Bank, and others adding to positions; institutions now own 76.93% of the company.
• The company reported better-than-expected quarterly earnings of $0.49 per share and pays a quarterly dividend of $1.27, implying a 2.9% yield, while analysts currently rate the stock a Moderate Buy with a consensus target of $192.33.

Vanguard Personalized Indexing Management LLC increased its position in Phillips 66 (NYSE:PSX - Free Report) by 16.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 65,533 shares of the oil and gas company's stock after buying an additional 9,292 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Phillips 66 were worth $8,456,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PSX. Vanguard Group Inc. increased its holdings in Phillips 66 by 11.6% in the third quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company's stock worth $7,035,574,000 after buying an additional 5,356,558 shares during the last quarter. Norges Bank acquired a new position in Phillips 66 in the fourth quarter worth approximately $640,206,000. M&T Bank Corp increased its holdings in Phillips 66 by 462.9% in the fourth quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company's stock worth $352,007,000 after buying an additional 2,243,268 shares during the last quarter. AQR Capital Management LLC increased its holdings in Phillips 66 by 424.7% in the third quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company's stock worth $257,512,000 after buying an additional 1,532,389 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new position in Phillips 66 in the second quarter worth approximately $107,967,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Insider Activity at Phillips 66

In other news, CFO Kevin J. Mitchell sold 600 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $171.56, for a total value of $102,936.00. Following the completion of the sale, the chief financial officer directly owned 97,376 shares of the company's stock, valued at approximately $16,705,826.56. This represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kevin Omar Meyers acquired 175 shares of Phillips 66 stock in a transaction dated Wednesday, May 6th. The stock was acquired at an average cost of $173.12 per share, with a total value of $30,296.00. Following the completion of the transaction, 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 SEC filing for this purchase provides additional information. Insiders sold 45,629 shares of company stock valued at $8,071,540 over the last three months. 0.40% of the stock is owned by company insiders.

Phillips 66 Stock Down 3.6%

Shares of Phillips 66 stock opened at $172.90 on Tuesday. The stock has a market capitalization of $69.32 billion, a P/E ratio of 17.03, a PEG ratio of 0.26 and a beta of 0.68. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average price of $172.42 and a two-hundred day moving average price of $158.19. Phillips 66 has a 12-month low of $118.00 and a 12-month high of $190.61.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) 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 firm had revenue of $32.54 billion during the quarter, compared to analysts' expectations of $35.86 billion. During the same quarter in the prior year, the business earned ($0.90) earnings per share. The company's revenue was up 6.9% on a year-over-year basis. Equities analysts expect that Phillips 66 will post 17.95 earnings per share for the current year.

Phillips 66 Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently commented on PSX. Zacks Research upgraded Phillips 66 from a "hold" rating to a "strong-buy" rating in a report on Monday, April 27th. Wall Street Zen raised Phillips 66 from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Tudor Pickering raised Phillips 66 from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 30th. Jefferies Financial Group upped their target price on Phillips 66 from $173.00 to $191.00 and gave the stock a "hold" rating in a research report on Tuesday, May 26th. Finally, UBS Group reaffirmed a "buy" rating and set a $212.00 target price on shares of Phillips 66 in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $192.33.

Phillips 66 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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