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Acadian Asset Management LLC Sells 117,009 Shares of Phillips 66 (NYSE:PSX)

By September 6, 2019 No Comments

Acadian Asset Management LLC lowered its stake in Phillips 66 (NYSE:PSX) by 90.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,223 shares of the oil and gas company’s stock after selling 117,009 shares during the quarter. Acadian Asset Management LLC’s holdings in Phillips 66 were worth $1,144,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PSX. Advisors Preferred LLC bought a new stake in shares of Phillips 66 in the 2nd quarter valued at $25,000. TRUE Private Wealth Advisors acquired a new stake in Phillips 66 in the 2nd quarter valued at $26,000. Harvest Group Wealth Management LLC acquired a new stake in Phillips 66 in the 1st quarter valued at $31,000. Manchester Financial Inc. acquired a new stake in Phillips 66 in the 2nd quarter valued at $32,000. Finally, Coastal Capital Group Inc. acquired a new stake in Phillips 66 in the 2nd quarter valued at $37,000. Institutional investors own 70.37% of the company’s stock.

PSX opened at $99.80 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.28 and a quick ratio of 0.82. The company has a market capitalization of $45.37 billion, a price-to-earnings ratio of 8.52, a P/E/G ratio of 1.99 and a beta of 1.08. The firm’s fifty day moving average price is $99.50 and its two-hundred day moving average price is $94.43. Phillips 66 has a 1 year low of $78.44 and a 1 year high of $119.14.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, July 26th. The oil and gas company reported $3.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.70 by $0.32. The firm had revenue of $28.52 billion for the quarter, compared to the consensus estimate of $29.89 billion. Phillips 66 had a net margin of 4.76% and a return on equity of 19.75%. During the same period in the previous year, the firm earned $2.80 EPS. As a group, equities analysts anticipate that Phillips 66 will post 7.67 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Monday, August 19th. Phillips 66’s dividend payout ratio is 30.74%.

PSX has been the subject of several research reports. Raymond James lifted their price target on shares of Phillips 66 from $110.00 to $117.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Macquarie initiated coverage on shares of Phillips 66 in a research report on Thursday. They issued an “outperform” rating for the company. ValuEngine downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Citigroup raised shares of Phillips 66 from a “neutral” rating to a “buy” rating in a research report on Friday, June 21st. Finally, Morgan Stanley reduced their price target on shares of Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating for the company in a research report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. Phillips 66 presently has an average rating of “Buy” and an average price target of $117.64.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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