Cozad Asset Management Inc. Has $4.90 Million Holdings in Phillips 66 (NYSE:PSX)

Cozad Asset Management Inc. reduced its holdings in Phillips 66 (NYSE:PSX) by 7.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,283 shares of the oil and gas company’s stock after selling 3,099 shares during the quarter. Cozad Asset Management Inc.’s holdings in Phillips 66 were worth $4,901,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Boston Partners lifted its holdings in shares of Phillips 66 by 41.4% in the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after purchasing an additional 1,595,722 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Phillips 66 by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after acquiring an additional 1,578,669 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Phillips 66 by 96.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock valued at $467,743,000 after purchasing an additional 1,408,954 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Phillips 66 by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock worth $1,189,035,000 after purchasing an additional 402,925 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Phillips 66 by 1,087.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 432,003 shares of the oil and gas company’s stock worth $70,563,000 after purchasing an additional 395,617 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on PSX. Morgan Stanley cut their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Wells Fargo & Company reduced their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Wolfe Research assumed coverage on Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Bank of America started coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective on the stock. Finally, Mizuho cut their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.38.

Phillips 66 Stock Up 5.0 %

Shares of Phillips 66 stock opened at $127.91 on Thursday. The firm has a market cap of $52.83 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 3.94 and a beta of 1.33. Phillips 66 has a one year low of $110.54 and a one year high of $174.08. The stock’s 50-day moving average is $130.59 and its 200 day moving average is $137.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same period in the prior year, the firm earned $4.63 earnings per share. Phillips 66’s revenue was down 10.3% on a year-over-year basis. Equities research analysts anticipate that Phillips 66 will post 7.69 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.60%. Phillips 66’s payout ratio is currently 59.05%.

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.