Brandywine Global Investment Management LLC Has $14.33 Million Stock Position in Phillips 66 (NYSE:PSX)

Brandywine Global Investment Management LLC lowered its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 67.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bogart Wealth LLC increased its position in shares of Phillips 66 by 120.0% in the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 120 shares during the period. J.Safra Asset Management Corp acquired a new stake in Phillips 66 during the fourth quarter worth about $25,000. Stephens Consulting LLC increased its holdings in Phillips 66 by 83.5% in the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock valued at $28,000 after buying an additional 111 shares during the period. Graney & King LLC bought a new position in Phillips 66 in the 4th quarter valued at about $28,000. Finally, Human Investing LLC bought a new stake in shares of Phillips 66 during the 4th quarter worth approximately $30,000. Institutional investors own 76.93% of the company's stock.

Phillips 66 Trading Up 0.7 %

Shares of PSX stock traded up $0.90 during trading hours on Tuesday, hitting $124.38. 2,000,871 shares of the company's stock traded hands, compared to its average volume of 2,781,506. The stock has a market cap of $50.71 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. The stock's 50 day simple moving average is $124.90 and its 200 day simple moving average is $125.49. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12 month low of $108.91 and a 12 month high of $174.08.

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

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66's payout ratio is presently 93.12%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PSX shares. Wolfe Research raised shares of Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. Wells Fargo & Company lifted their price target on Phillips 66 from $161.00 to $162.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. The Goldman Sachs Group downgraded Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective for the company. in a research report on Thursday, March 27th. Piper Sandler cut Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. Finally, Barclays increased their target price on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. One investment 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 data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $146.43.

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.