Phillips 66 (NYSE:PSX) Holdings Trimmed by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC reduced its position in shares of Phillips 66 (NYSE:PSX) by 67.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 125,732 shares of the oil and gas company’s stock after selling 258,060 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Phillips 66 were worth $14,325,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Bank of New York Mellon Corp lifted its stake in Phillips 66 by 7.3% in the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after acquiring an additional 639,323 shares in the last quarter. Norges Bank acquired a new position in shares of Phillips 66 in the 4th quarter valued at about $497,648,000. Amundi lifted its position in shares of Phillips 66 by 25.7% in the fourth quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock worth $428,081,000 after purchasing an additional 753,653 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Phillips 66 by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,002,995 shares of the oil and gas company’s stock worth $342,131,000 after purchasing an additional 101,108 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Phillips 66 during the fourth quarter valued at approximately $168,790,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price for the company. in a research note on Thursday. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research report on Friday, January 3rd. Mizuho reduced their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Wells Fargo & Company increased their price objective on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $146.43.

Phillips 66 Stock Down 2.4 %

PSX stock opened at $121.67 on Monday. The stock has a market capitalization of $49.60 billion, a price-to-earnings ratio of 24.63, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. The company has a 50-day moving average of $124.76 and a two-hundred day moving average of $125.52. Phillips 66 has a 52-week low of $108.91 and a 52-week high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the company posted $3.09 EPS. As a group, equities research analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $1.15 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 3.78%. Phillips 66’s dividend payout ratio is 93.12%.

Phillips 66 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.