Lawson Kroeker Investment Management Inc. NE Increases Stock Holdings in Phillips 66 $PSX

Key Points

• Lawson Kroeker Investment Management Inc. NE increased its stake in Phillips 66 by 5.5% in the second quarter, now holding 150,520 shares valued at approximately $17.96 million.
• Multiple hedge funds have significantly altered their positions in Phillips 66, with Elliott Investment Management L.P. increasing its holdings by an astonishing 1,929% to own 15,725,000 shares worth nearly $1.94 billion.
• Phillips 66 announced a quarterly dividend of $1.20 per share, with an annualized dividend yield of 3.8%, while its dividend payout ratio is currently at 115.38%.

Lawson Kroeker Investment Management Inc. NE lifted its stake in Phillips 66 (NYSE:PSX - Free Report) by 5.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 150,520 shares of the oil and gas company's stock after acquiring an additional 7,783 shares during the period. Phillips 66 accounts for 3.3% of Lawson Kroeker Investment Management Inc. NE's portfolio, making the stock its 7th largest position. Lawson Kroeker Investment Management Inc. NE's holdings in Phillips 66 were worth $17,957,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Elliott Investment Management L.P. grew its position in shares of Phillips 66 by 1,929.0% in the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company's stock worth $1,941,723,000 after buying an additional 14,950,000 shares during the last quarter. Chronos Wealth Management LLC acquired a new stake in Phillips 66 in the second quarter valued at approximately $281,000. Wealth Enhancement Advisory Services LLC grew its holdings in Phillips 66 by 20.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company's stock worth $19,625,000 after purchasing an additional 26,825 shares during the last quarter. Alta Advisers Ltd acquired a new position in shares of Phillips 66 during the first quarter worth $253,000. Finally, Sustainable Insight Capital Management LLC purchased a new stake in shares of Phillips 66 during the 1st quarter valued at $1,457,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PSX shares. Scotiabank restated a "sector perform" rating and set a $133.00 target price on shares of Phillips 66 in a research note on Friday, July 11th. Evercore ISI raised their price target on Phillips 66 from $130.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, September 19th. Wall Street Zen upgraded Phillips 66 from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Jefferies Financial Group increased their price objective on shares of Phillips 66 from $133.00 to $137.00 and gave the company a "hold" rating in a research report on Friday. Finally, Compass Point initiated coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued a "buy" rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of "Moderate Buy" and an average target price of $140.75.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the sale, the executive vice president directly owned 34,587 shares of the company's stock, valued at approximately $4,842,180. This trade represents a 11.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael A. Heim acquired 1,000 shares of Phillips 66 stock in a transaction on Wednesday, July 30th. The shares were bought at an average price of $125.97 per share, with a total value of $125,970.00. Following the purchase, the director directly owned 12,043 shares in the company, valued at approximately $1,517,056.71. The trade was a 9.06% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 9,850 shares of company stock valued at $1,188,910 in the last three months. Company insiders own 0.22% of the company's stock.

Phillips 66 Trading Down 3.1%

Phillips 66 stock opened at $127.01 on Friday. The stock has a 50-day moving average price of $129.51 and a 200 day moving average price of $120.59. The company has a market capitalization of $51.33 billion, a price-to-earnings ratio of 30.53, a price-to-earnings-growth ratio of 1.86 and a beta of 1.11. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $142.35. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The company had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same period last year, the firm posted $2.31 EPS. Sell-side analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66's dividend payout ratio is presently 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.

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