Phillips 66 (NYSE:PSX) Shares Purchased by Cross Staff Investments Inc

Cross Staff Investments Inc boosted its position in shares of Phillips 66 (NYSE:PSX) by 7.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,363 shares of the oil and gas company’s stock after acquiring an additional 154 shares during the period. Cross Staff Investments Inc’s holdings in Phillips 66 were worth $311,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PSX. Crewe Advisors LLC purchased a new position in Phillips 66 in the first quarter valued at $25,000. Keener Financial Planning LLC purchased a new stake in Phillips 66 during the first quarter worth approximately $26,000. Strategic Financial Concepts LLC acquired a new position in Phillips 66 in the second quarter valued at approximately $26,000. nVerses Capital LLC purchased a new position in Phillips 66 in the third quarter valued at approximately $26,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Phillips 66 during the first quarter worth approximately $28,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Raymond James increased their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Bank of America began coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price for the company. Morgan Stanley dropped their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Wolfe Research began coverage on Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, TD Cowen lowered their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.50.

Phillips 66 Price Performance

Phillips 66 stock opened at $128.49 on Friday. 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 one year low of $107.85 and a one year high of $174.08. The company has a market cap of $53.78 billion, a P/E ratio of 11.02, a price-to-earnings-growth ratio of 5.61 and a beta of 1.33. The business has a fifty day moving average of $132.85 and a two-hundred day moving average of $139.57.

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, topping analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. During the same period in the previous year, the business earned $3.87 earnings per share. Phillips 66’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, analysts predict that Phillips 66 will post 7.81 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio is presently 39.45%.

Insider Activity at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.22% of the stock is currently owned by corporate 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.