NorthCrest Asset Manangement LLC Sells 95 Shares of Phillips 66 (NYSE:PSX)

NorthCrest Asset Manangement LLC trimmed its stake in Phillips 66 (NYSE:PSX) by 0.5% in the fourth quarter, Holdings Channel reports. The firm owned 18,414 shares of the oil and gas company’s stock after selling 95 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Phillips 66 were worth $2,098,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. grew its stake in Phillips 66 by 10.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock valued at $5,349,000 after purchasing an additional 4,515 shares in the last quarter. Flavin Financial Services Inc. bought a new position in shares of Phillips 66 during the 4th quarter worth approximately $1,190,000. Smith Group Asset Management LLC bought a new position in shares of Phillips 66 during the 4th quarter worth approximately $1,149,000. Corps Capital Advisors LLC bought a new position in shares of Phillips 66 during the 4th quarter worth approximately $412,000. Finally, Cohen & Steers Inc. boosted its stake in shares of Phillips 66 by 40.3% during the 4th quarter. Cohen & Steers Inc. now owns 91,663 shares of the oil and gas company’s stock worth $10,443,000 after acquiring an additional 26,318 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Tudor Pickering downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Morgan Stanley reduced their target price on Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Wall Street Zen upgraded Phillips 66 from a “sell” rating to a “hold” rating in a research note on Monday, April 28th. The Goldman Sachs Group downgraded Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price for the company. in a research note on Thursday, March 27th. Finally, Barclays lifted their price target on Phillips 66 from $106.00 to $115.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $137.86.

Insider Transactions at Phillips 66

In other news, Director Robert W. Pease bought 439 shares of the stock in a transaction on Thursday, May 22nd. The stock was acquired at an average price of $113.85 per share, with a total value of $49,980.15. Following the acquisition, the director now directly owns 4,091 shares in the company, valued at approximately $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.22% of the stock is owned by insiders.

Phillips 66 Price Performance

Phillips 66 stock opened at $112.73 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12. The stock has a market capitalization of $45.93 billion, a P/E ratio of 22.82, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01. The stock has a fifty day moving average of $109.74 and a 200-day moving average of $118.78.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The business had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. During the same period last year, the firm posted $1.90 EPS. On average, sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.26%. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s payout ratio is 109.34%.

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.