Cozad Asset Management Inc. Raises Holdings in Phillips 66 (NYSE:PSX)

Cozad Asset Management Inc. grew its holdings in Phillips 66 (NYSE:PSX) by 38.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,382 shares of the oil and gas company’s stock after purchasing an additional 11,121 shares during the period. Cozad Asset Management Inc.’s holdings in Phillips 66 were worth $5,701,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Manning & Napier Advisors LLC bought a new stake in Phillips 66 in the 2nd quarter worth about $17,670,000. M&G Plc bought a new stake in shares of Phillips 66 in the second quarter worth approximately $3,596,000. Duality Advisers LP purchased a new position in shares of Phillips 66 during the first quarter valued at approximately $3,596,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Phillips 66 by 42.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock valued at $21,844,000 after purchasing an additional 39,775 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its position in Phillips 66 by 14.3% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company’s stock valued at $38,530,000 after purchasing an additional 36,116 shares during the period. Hedge funds and other institutional investors 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 dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 3.8 %

Phillips 66 stock opened at $135.02 on Wednesday. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The firm has a market capitalization of $57.24 billion, a price-to-earnings ratio of 10.39, a P/E/G ratio of 2.53 and a beta of 1.34. The firm has a 50 day moving average of $137.78 and a 200 day moving average of $145.14. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The business had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.87 earnings per share. As a group, research analysts predict that Phillips 66 will post 9.25 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a $1.15 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.41%. Phillips 66’s payout ratio is presently 35.38%.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of research analyst reports. Barclays lifted their target price on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Piper Sandler cut their price objective on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Wells Fargo & Company increased their target price on Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a report on Tuesday. JPMorgan Chase & Co. dropped their target price on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Finally, Argus reaffirmed a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a research report on Thursday, May 30th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $157.85.

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.