Dimensional Fund Advisors LP Acquires 357,705 Shares of Phillips 66 (NYSE:PSX)

Dimensional Fund Advisors LP increased its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 9.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,014,113 shares of the oil and gas company's stock after acquiring an additional 357,705 shares during the quarter. Dimensional Fund Advisors LP owned 0.97% of Phillips 66 worth $457,257,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PSX. Bogart Wealth LLC raised its position in shares of Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock valued at $25,000 after buying an additional 120 shares during the last quarter. J.Safra Asset Management Corp bought a new position in Phillips 66 during the fourth quarter worth about $25,000. Stephens Consulting LLC lifted its position in shares of Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 111 shares in the last quarter. Graney & King LLC bought a new position in Phillips 66 during the fourth quarter worth about $28,000. Finally, Human Investing LLC bought a new stake in Phillips 66 in the 4th quarter valued at $30,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on PSX shares. Scotiabank cut their target price on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. Mizuho cut their target price on Phillips 66 from $140.00 to $132.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Wells Fargo & Company raised their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. StockNews.com cut Phillips 66 from a "hold" rating to a "sell" rating in a research report on Sunday, March 2nd. Finally, Piper Sandler cut shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $142.00.

Phillips 66 Trading Up 1.9 %

Shares of NYSE PSX traded up $1.90 during midday trading on Wednesday, hitting $102.80. The stock had a trading volume of 3,055,099 shares, compared to its average volume of 2,901,840. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $158.38. The company has a market capitalization of $41.88 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 4.84 and a beta of 1.17. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a fifty day moving average price of $117.31 and a 200 day moving average price of $121.80.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS 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 quarter last year, the firm posted $3.09 EPS. On average, analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 4.67%. The ex-dividend date is Monday, May 19th. This is an increase from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's payout ratio is currently 93.12%.

Phillips 66 Company 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.