Barrow Hanley Mewhinney & Strauss LLC Raises Stock Holdings in Phillips 66 (NYSE:PSX)

Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Phillips 66 (NYSE:PSX) by 2.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,813,579 shares of the oil and gas company’s stock after purchasing an additional 79,301 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned 0.67% of Phillips 66 worth $397,193,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Crewe Advisors LLC purchased a new position in shares of Phillips 66 during the first quarter worth $25,000. Keener Financial Planning LLC acquired a new stake in Phillips 66 during the 1st quarter worth about $26,000. Strategic Financial Concepts LLC purchased a new position in shares of Phillips 66 during the 2nd quarter valued at about $26,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Phillips 66 in the 4th quarter valued at about $27,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Phillips 66 in the 1st quarter valued at about $28,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

PSX opened at $129.97 on Friday. The company has a market cap of $55.10 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 4.67 and a beta of 1.33. The firm’s fifty day simple moving average is $135.20 and its two-hundred day simple moving average is $143.67. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. Phillips 66 has a 52-week low of $107.85 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. During the same period last year, the company posted $3.87 EPS. Phillips 66’s quarterly revenue was up 8.9% compared to the same quarter last year. Equities analysts anticipate that Phillips 66 will post 9.1 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s dividend payout ratio is presently 35.38%.

Analysts Set New Price Targets

Several research firms recently commented on PSX. Wells Fargo & Company raised their target price on Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Wolfe Research assumed coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Morgan Stanley decreased their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Scotiabank lowered their price target on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Finally, Raymond James lifted their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.21.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is owned by company insiders.

About Phillips 66

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.