NorthCrest Asset Manangement LLC Increases Stock Holdings in Phillips 66 (NYSE:PSX)

NorthCrest Asset Manangement LLC boosted its position in shares of Phillips 66 (NYSE:PSX) by 0.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 18,472 shares of the oil and gas company’s stock after purchasing an additional 112 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Phillips 66 were worth $2,608,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. AA Financial Advisors LLC boosted its stake in Phillips 66 by 19.3% during the second quarter. AA Financial Advisors LLC now owns 4,460 shares of the oil and gas company’s stock valued at $630,000 after buying an additional 723 shares during the period. M&G Plc bought a new stake in shares of Phillips 66 during the 2nd quarter valued at about $3,596,000. Wedmont Private Capital boosted its position in shares of Phillips 66 by 47.3% during the 2nd quarter. Wedmont Private Capital now owns 7,294 shares of the oil and gas company’s stock valued at $1,011,000 after acquiring an additional 2,341 shares during the last quarter. Cooper Financial Group grew its holdings in shares of Phillips 66 by 35.4% during the second quarter. Cooper Financial Group now owns 2,363 shares of the oil and gas company’s stock worth $334,000 after purchasing an additional 618 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of Phillips 66 by 3.8% in the second quarter. Sequoia Financial Advisors LLC now owns 20,186 shares of the oil and gas company’s stock worth $2,850,000 after purchasing an additional 741 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the transaction, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.22% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on PSX. JPMorgan Chase & Co. dropped their target price on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Argus reiterated a “buy” rating and issued a $167.00 target price on shares of Phillips 66 in a research report on Thursday, May 30th. Mizuho lowered their price target on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. TD Cowen lifted their price target on Phillips 66 from $155.00 to $162.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $157.38.

Phillips 66 Trading Up 1.1 %

PSX stock traded up $1.45 during trading on Wednesday, hitting $136.11. 378,192 shares of the company traded hands, compared to its average volume of 2,648,314. The company has a 50-day moving average of $138.15 and a 200-day moving average of $146.04. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08. The firm has a market capitalization of $56.97 billion, a PE ratio of 10.43, a P/E/G ratio of 2.37 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. During the same quarter in the previous year, the company posted $3.87 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. Analysts predict that Phillips 66 will post 9.53 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be given a dividend of $1.15 per share. The ex-dividend date is Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.38%. Phillips 66’s payout ratio is currently 35.38%.

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.