First Nebraska Trust Co Acquires New Shares in Phillips 66 $PSX

First Nebraska Trust Co purchased a new stake in shares of Phillips 66 (NYSE:PSX) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 19,229 shares of the oil and gas company’s stock, valued at approximately $4,909,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NFSG Corp grew its holdings in Phillips 66 by 105.6% in the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 75 shares in the last quarter. Axiom Investment Management LLC bought a new position in Phillips 66 during the 1st quarter worth $27,000. Compass Financial Management LLC acquired a new stake in shares of Phillips 66 during the second quarter worth $28,000. Kelleher Financial Advisors acquired a new stake in shares of Phillips 66 during the second quarter worth $29,000. Finally, J.Safra Asset Management Corp acquired a new stake in shares of Phillips 66 during the second quarter worth $30,000. 76.93% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Richard G. Harbison sold 52,100 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $223.76, for a total value of $11,657,896.00. Following the sale, the executive vice president directly owned 39,094 shares in the company, valued at approximately $8,747,673.44. This trade represents a 57.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Brian Mandell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $215.00, for a total transaction of $6,450,000.00. Following the sale, the executive vice president directly owned 61,595 shares in the company, valued at $13,242,925. This trade represents a 32.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 108,800 shares of company stock valued at $25,016,566. Insiders own 0.40% of the company’s stock.

Phillips 66 Trading Down 1.2%

PSX opened at $271.86 on Wednesday. Phillips 66 has a twelve month low of $127.16 and a twelve month high of $299.39. The company has a 50-day simple moving average of $267.41 and a 200 day simple moving average of $199.84. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $106.05 billion, a price-to-earnings ratio of 8.68, a P/E/G ratio of 0.15 and a beta of 0.69.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, October 28th. The oil and gas company reported $14.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.73 by $2.35. Phillips 66 had a return on equity of 33.12% and a net margin of 7.27%. The company had revenue of $50.54 billion for the quarter, compared to analyst estimates of $44.91 billion. During the same quarter last year, the company posted $2.52 EPS. Analysts predict that Phillips 66 will post 33.22 EPS for the current fiscal year.

Phillips 66 announced that its Board of Directors has authorized a share repurchase plan on Friday, July 31st that authorizes the company to buy back $10 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 11.8% of its shares through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its stock is undervalued.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 17th will be given a $1.33 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.27. This represents a $5.32 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Tuesday, November 17th. Phillips 66’s dividend payout ratio (DPR) is presently 16.22%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. UBS Group upped their price target on shares of Phillips 66 from $235.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, September 8th. Citigroup lifted their price objective on shares of Phillips 66 from $217.00 to $297.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 13th. TD Cowen boosted their price objective on shares of Phillips 66 from $295.00 to $308.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Weiss Ratings raised shares of Phillips 66 from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Finally, Zacks Research upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 7th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $269.82.

Key Headlines Impacting Phillips 66

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Analyst support: Morgan Stanley issued a Buy rating and raised its price target to $290, implying about 6.7% upside from the cited $271.86 share price. Morgan Stanley Issues a Buy Rating on Phillips 66 (PSX)
• Positive Sentiment: Refining momentum: Zacks included PSX among energy stocks showing momentum after October’s rally, pointing to strong quarterly earnings, favorable refining conditions and improving growth prospects. Buy 3 Energy Stocks as November Momentum Builds Up Post Choppy October
• Positive Sentiment: Renewable-fuels opportunity: Phillips 66’s long-term agreement with Restaurant Technologies will supply traceable used cooking oil for renewable fuel production in California, supporting feedstock availability for sustainable aviation fuel. The longer-term commercial potential may help diversify growth, though the articles provide no financial impact estimate. From Fryer to Flyer: Converting Used Cooking Oil into Sustainable Aviation Fuel
• Neutral Sentiment: Technical signal: Zacks noted PSX moved above its 20-day moving average, a short-term bullish indicator, but this chart signal does not establish a change in the company’s fundamentals. Phillips 66 (PSX) Just Flashed Golden Cross Signal: Do You Buy?
• Negative Sentiment: More cautious rating: Freedom Broker upgraded PSX from Sell to Hold and lifted its target to $258, which remains below the cited share price and signals limited near-term upside in its view. Freedom Broker recommendations

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an energy manufacturing and logistics company headquartered in Houston, Texas. The company was established in 2012 following the separation of ConocoPhillips’ downstream and midstream businesses.

Phillips 66 operates across midstream, chemicals, refining and marketing. Its midstream activities include gathering, processing, transporting and storing crude oil, natural gas and natural gas liquids. Through its refining operations, the company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, lubricants and other refined petroleum products.

The company markets fuel and related products under the Phillips 66, 76 and Conoco brands, serving retail, commercial, aviation and industrial customers.