Cozad Asset Management Inc. Lowers Position in Phillips 66 (NYSE:PSX)

Cozad Asset Management Inc. lowered its holdings in Phillips 66 (NYSE:PSX - Free Report) by 86.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 5,199 shares of the oil and gas company's stock after selling 33,121 shares during the quarter. Cozad Asset Management Inc.'s holdings in Phillips 66 were worth $642,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pacific Center for Financial Services bought a new position in shares of Phillips 66 in the 4th quarter worth approximately $27,000. von Borstel & Associates Inc. bought a new position in shares of Phillips 66 in the 1st quarter worth approximately $27,000. Olde Wealth Management LLC bought a new position in shares of Phillips 66 in the 1st quarter worth approximately $28,000. Wood Tarver Financial Group LLC bought a new position in shares of Phillips 66 in the 4th quarter worth approximately $29,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Phillips 66 in the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 76.93% of the company's stock.

Wall Street Analyst Weigh In

PSX has been the subject of several research reports. Compass Point initiated coverage on Phillips 66 in a research report on Wednesday, June 18th. They issued a "buy" rating for the company. Scotiabank reaffirmed a "sector perform" rating and set a $133.00 price objective on shares of Phillips 66 in a research report on Friday, July 11th. Wells Fargo & Company reduced their price objective on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. Wall Street Zen raised Phillips 66 from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Barclays raised their price objective on Phillips 66 from $115.00 to $127.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $136.13.

Insider Transactions at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total value of $571,090.00. Following the transaction, the executive vice president directly owned 43,373 shares in the company, valued at $5,638,490. This trade represents a 9.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Brian Mandell sold 9,800 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total value of $1,225,000.00. Following the completion of the transaction, the executive vice president owned 56,838 shares in the company, valued at approximately $7,104,750. This trade represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.22% of the company's stock.

Phillips 66 Stock Down 3.2%

PSX traded down $3.99 during trading on Friday, hitting $119.59. 2,115,491 shares of the company's stock traded hands, compared to its average volume of 3,473,188. The company's 50 day simple moving average is $122.28 and its two-hundred day simple moving average is $118.88. The company has a current ratio of 1.07, a quick ratio of 0.88 and a debt-to-equity ratio of 0.60. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $140.85. The stock has a market capitalization of $48.33 billion, a price-to-earnings ratio of 28.75, a PEG ratio of 1.69 and a beta of 1.02.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, beating the consensus estimate of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%. The business had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. During the same period last year, the business posted $2.31 EPS. Analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Tuesday, August 19th. Phillips 66's dividend payout ratio (DPR) is 115.38%.

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.