Phillips 66 $PSX Stock Holdings Lowered by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC trimmed its holdings in shares of Phillips 66 (NYSE:PSX) by 1.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,149,198 shares of the oil and gas company’s stock after selling 32,460 shares during the period. Phillips 66 comprises approximately 1.4% of Barrow Hanley Mewhinney & Strauss LLC’s investment portfolio, making the stock its 27th biggest position. Barrow Hanley Mewhinney & Strauss LLC owned approximately 0.78% of Phillips 66 worth $428,354,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Phillips 66 by 14.8% in the second quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock valued at $5,531,702,000 after buying an additional 5,978,841 shares in the last quarter. Norges Bank bought a new stake in shares of Phillips 66 during the 2nd quarter worth $523,755,000. Elliott Investment Management L.P. grew its holdings in shares of Phillips 66 by 22.4% in the 2nd quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock worth $2,296,644,000 after acquiring an additional 3,526,000 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Phillips 66 by 17.4% during the second quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock worth $1,226,815,000 after purchasing an additional 1,532,967 shares during the period. Finally, Soundwatch Capital LLC purchased a new stake in shares of Phillips 66 during the second quarter valued at $170,604,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $162.60 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.30 and a quick ratio of 0.91. Phillips 66 has a one year low of $91.01 and a one year high of $169.62. The business’s 50-day moving average price is $148.88 and its two-hundred day moving average price is $139.30. The company has a market capitalization of $65.16 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 0.57 and a beta of 0.86.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. The company had revenue of $32.16 billion during the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.During the same period last year, the business earned ($0.15) EPS. Analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were given a dividend of $1.27 per share. The ex-dividend date of this dividend was Monday, February 23rd. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 annualized dividend and a yield of 3.1%. Phillips 66’s payout ratio is 46.95%.

Analyst Ratings Changes

PSX has been the topic of a number of analyst reports. TD Cowen reissued a “buy” rating on shares of Phillips 66 in a research note on Friday, February 6th. Mizuho upped their price objective on shares of Phillips 66 from $150.00 to $152.00 and gave the company a “neutral” rating in a research note on Monday, January 12th. Argus raised their target price on shares of Phillips 66 from $152.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Wall Street Zen raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Finally, Barclays set a $158.00 price target on shares of Phillips 66 in a report on Friday, February 20th. Eleven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Hold” and an average target price of $160.11.

Insider Activity at Phillips 66

In other news, EVP Don Baldridge sold 7,500 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the transaction, the executive vice president owned 38,488 shares in the company, valued at $6,158,080. This represents a 16.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total transaction of $659,100.00. Following the transaction, the executive vice president owned 25,799 shares in the company, valued at $3,869,850. This represents a 14.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 38,088 shares of company stock valued at $6,147,655. 0.22% of the stock is currently owned by corporate insiders.

About Phillips 66

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.