Thrivent Financial for Lutherans Has $6.64 Million Holdings in Phillips 66 $PSX

Key Points

• Thrivent Financial for Lutherans increased its Phillips 66 stake by 89.4% in the fourth quarter, ending with 51,396 shares valued at about $6.64 million.
• Phillips 66 beat earnings expectations in its latest quarter, reporting $0.49 EPS versus a consensus loss estimate, though revenue of $32.54 billion fell short of analyst forecasts.
• The company recently declared a quarterly dividend of $1.27 per share, equal to a 2.8% yield, while analysts currently rate the stock a Moderate Buy with an average target price of $187.11.

Thrivent Financial for Lutherans boosted its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 89.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,396 shares of the oil and gas company's stock after purchasing an additional 24,260 shares during the quarter. Thrivent Financial for Lutherans' holdings in Phillips 66 were worth $6,635,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Phillips 66 by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company's stock valued at $6,701,052,000 after purchasing an additional 205,480 shares during the last quarter. M&T Bank Corp raised its stake in Phillips 66 by 462.9% during the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company's stock valued at $352,007,000 after purchasing an additional 2,243,268 shares during the last quarter. Amundi raised its stake in Phillips 66 by 2.8% during the 3rd quarter. Amundi now owns 2,400,180 shares of the oil and gas company's stock valued at $319,123,000 after purchasing an additional 65,568 shares during the last quarter. Legal & General Group Plc raised its stake in Phillips 66 by 1.5% during the 3rd quarter. Legal & General Group Plc now owns 2,276,036 shares of the oil and gas company's stock valued at $309,586,000 after purchasing an additional 33,397 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Phillips 66 by 424.7% during the 3rd quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company's stock valued at $257,512,000 after purchasing an additional 1,532,389 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Trading Down 1.6%

Shares of Phillips 66 stock opened at $179.54 on Thursday. The company's fifty day moving average price is $171.72 and its two-hundred day moving average price is $152.86. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. Phillips 66 has a 52-week low of $109.75 and a 52-week high of $190.61. The firm has a market capitalization of $71.98 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 0.27 and a beta of 0.70.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same quarter in the prior year, the firm earned ($0.90) EPS. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts expect that Phillips 66 will post 17.64 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be issued a $1.27 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.8%. Phillips 66's dividend payout ratio is presently 50.05%.

Insider Activity

In other news, Director Lisa Ann Davis sold 3,800 shares of the company's stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $174.37, for a total value of $662,606.00. Following the sale, the director owned 8,701 shares of the company's stock, valued at approximately $1,517,193.37. This represents a 30.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kevin Omar Meyers bought 175 shares of the stock in a transaction dated Wednesday, May 6th. The stock was purchased at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the acquisition, the director owned 16,799 shares in the company, valued at $2,908,242.88. The trade was a 1.05% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 114,029 shares of company stock worth $19,641,455 in the last quarter. 0.40% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their target price on shares of Phillips 66 from $163.00 to $201.00 and gave the company an "overweight" rating in a research note on Tuesday, March 31st. Zacks Research raised shares of Phillips 66 from a "hold" rating to a "strong-buy" rating in a report on Monday, April 27th. Citigroup boosted their price target on shares of Phillips 66 from $159.00 to $183.00 and gave the company a "neutral" rating in a report on Thursday, April 9th. Scotiabank boosted their price target on shares of Phillips 66 from $140.00 to $151.00 and gave the company a "sector perform" rating in a report on Wednesday, April 22nd. Finally, Jefferies Financial Group lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $187.11.

Phillips 66 Company Profile

Phillips 66 NYSE: PSX is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company's principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.

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