Cozad Asset Management Inc. Sells 3,099 Shares of Phillips 66 (NYSE:PSX)

Cozad Asset Management Inc. cut its stake in shares of Phillips 66 (NYSE:PSX) by 7.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,283 shares of the oil and gas company’s stock after selling 3,099 shares during the period. Cozad Asset Management Inc.’s holdings in Phillips 66 were worth $4,901,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Crewe Advisors LLC bought a new stake in Phillips 66 during the first quarter worth $25,000. Strategic Financial Concepts LLC purchased a new position in shares of Phillips 66 in the 2nd quarter worth about $26,000. nVerses Capital LLC bought a new position in Phillips 66 during the third quarter valued at about $26,000. Values First Advisors Inc. bought a new stake in Phillips 66 in the third quarter worth about $30,000. Finally, Bank & Trust Co bought a new stake in Phillips 66 in the second quarter worth about $31,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $127.91 on Thursday. 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 has a one year low of $110.54 and a one year high of $174.08. The business’s 50 day simple moving average is $130.59 and its two-hundred day simple moving average is $137.00. The stock has a market capitalization of $52.83 billion, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 3.94 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. Phillips 66’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.63 EPS. Analysts forecast that Phillips 66 will post 7.69 EPS for the current year.

Phillips 66 Dividend Announcement

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

Insider Activity

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction 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 completion of the transaction, the chief financial officer now owns 81,937 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Raymond James lifted their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. UBS Group lowered their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday. Piper Sandler set a $144.00 price target on Phillips 66 in a research note on Thursday, October 17th. JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Finally, Mizuho reduced 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 equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $150.38.

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.