NorthCrest Asset Manangement LLC Purchases 112 Shares of Phillips 66 (NYSE:PSX)

NorthCrest Asset Manangement LLC lifted its position in shares of Phillips 66 (NYSE:PSX) by 0.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,472 shares of the oil and gas company’s stock after buying an additional 112 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Phillips 66 were worth $2,608,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. International Assets Investment Management LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $1,910,000. Cerity Partners LLC grew its position in Phillips 66 by 29.1% during the fourth quarter. Cerity Partners LLC now owns 46,863 shares of the oil and gas company’s stock worth $6,239,000 after buying an additional 10,550 shares in the last quarter. Sapient Capital LLC bought a new position in Phillips 66 during the 4th quarter worth $269,000. Graypoint LLC raised its holdings in Phillips 66 by 4.9% in the 4th quarter. Graypoint LLC now owns 3,025 shares of the oil and gas company’s stock valued at $403,000 after acquiring an additional 141 shares in the last quarter. Finally, Simplicity Solutions LLC lifted its position in shares of Phillips 66 by 4.6% during the 4th quarter. Simplicity Solutions LLC now owns 8,242 shares of the oil and gas company’s stock valued at $1,097,000 after acquiring an additional 362 shares during the period. Institutional investors own 76.93% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the sale, the executive vice president now directly owns 48,365 shares in the company, valued at $7,051,617. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of recent analyst reports. Argus restated a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a research report on Thursday, May 30th. Wolfe Research assumed coverage on shares of Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Raymond James upped their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. TD Cowen increased their price target on shares of Phillips 66 from $155.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Mizuho lowered their price objective on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $157.38.

Phillips 66 Price Performance

Shares of PSX traded up $1.45 during trading hours on Wednesday, reaching $136.11. The stock had a trading volume of 378,192 shares, compared to its average volume of 2,648,314. 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 12 month low of $107.85 and a 12 month high of $174.08. The stock has a market capitalization of $56.97 billion, a PE ratio of 10.43, a PEG ratio of 2.37 and a beta of 1.34. The company’s 50-day moving average is $138.15 and its two-hundred day moving average is $146.04.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS 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 period last year, the company earned $3.87 earnings per share. The business’s quarterly revenue was up 8.9% on a year-over-year basis. Research analysts expect that Phillips 66 will post 9.53 EPS for the current year.

Phillips 66 Dividend Announcement

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

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.