Barrow Hanley Mewhinney & Strauss LLC Has $231.23 Million Position in Phillips 66 (NYSE:PSX)

Barrow Hanley Mewhinney & Strauss LLC trimmed its holdings in Phillips 66 (NYSE:PSX) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,029,562 shares of the oil and gas company’s stock after selling 43,721 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned 0.49% of Phillips 66 worth $231,228,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in Phillips 66 by 283.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock valued at $686,618,000 after purchasing an additional 4,455,220 shares during the last quarter. Norges Bank bought a new stake in shares of Phillips 66 during the 4th quarter worth $497,648,000. Raymond James Financial Inc. bought a new position in Phillips 66 in the 4th quarter worth $168,790,000. Capitolis Liquid Global Markets LLC bought a new position in Phillips 66 in the 4th quarter worth $142,185,000. Finally, Jacobs Levy Equity Management Inc. lifted its position in Phillips 66 by 157.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,541,240 shares of the oil and gas company’s stock worth $175,593,000 after acquiring an additional 942,922 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Barclays raised their price target on Phillips 66 from $106.00 to $115.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th. Wells Fargo & Company reduced their price objective on Phillips 66 from $162.00 to $149.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Morgan Stanley dropped their target price on shares of Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. UBS Group reduced their price target on shares of Phillips 66 from $144.00 to $140.00 and set a “buy” rating for the company in a report on Monday, April 28th. Finally, Wall Street Zen upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a research report on Monday, April 28th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $137.86.

Phillips 66 Stock Up 1.1%

NYSE PSX opened at $112.97 on Friday. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12. The company has a market capitalization of $46.03 billion, a price-to-earnings ratio of 22.87, a PEG ratio of 4.84 and a beta of 1.01. The stock’s 50 day moving average is $110.91 and its two-hundred day moving average is $119.13. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. The company had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. During the same period in the prior year, the firm earned $1.90 EPS. Equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal 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 4.25%. The ex-dividend date of this dividend 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 109.34%.

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.