Thurston Springer Miller Herd & Titak Inc. Has $4.11 Million Stock Position in Phillips 66 (NYSE:PSX)

Thurston Springer Miller Herd & Titak Inc. raised its stake in Phillips 66 (NYSE:PSX - Free Report) by 37.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,251 shares of the oil and gas company's stock after purchasing an additional 9,020 shares during the quarter. Phillips 66 makes up about 0.7% of Thurston Springer Miller Herd & Titak Inc.'s portfolio, making the stock its 28th biggest holding. Thurston Springer Miller Herd & Titak Inc.'s holdings in Phillips 66 were worth $4,106,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its position in Phillips 66 by 7.3% during the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company's stock worth $1,064,601,000 after buying an additional 639,323 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Phillips 66 by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company's stock valued at $968,844,000 after buying an additional 82,758 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Phillips 66 by 283.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock worth $686,618,000 after acquiring an additional 4,455,220 shares during the period. Northern Trust Corp increased its holdings in shares of Phillips 66 by 10.6% during the 4th quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company's stock worth $522,834,000 after acquiring an additional 440,107 shares during the last quarter. Finally, Norges Bank bought a new stake in Phillips 66 in the 4th quarter valued at $497,648,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of research analyst reports. Morgan Stanley reduced their price objective on shares of Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Barclays upped their price target on shares of Phillips 66 from $106.00 to $115.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Wall Street Zen raised shares of Phillips 66 from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Wells Fargo & Company reduced their price objective on Phillips 66 from $162.00 to $149.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Finally, Raymond James decreased their target price on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $135.62.

Phillips 66 Price Performance

PSX stock traded up $2.28 during midday trading on Friday, reaching $114.51. The company had a trading volume of 2,821,031 shares, compared to its average volume of 3,015,866. The company has a market capitalization of $46.65 billion, a price-to-earnings ratio of 23.18, a price-to-earnings-growth ratio of 4.84 and a beta of 1.02. 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 1-year low of $91.01 and a 1-year high of $150.12. The stock has a 50 day moving average price of $108.42 and a 200-day moving average price of $118.13.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). The firm had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the previous year, the firm posted $1.90 earnings per share. Equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $1.20 dividend. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date was Monday, May 19th. This represents a $4.80 annualized dividend and a dividend yield of 4.19%. Phillips 66's dividend payout ratio (DPR) is presently 109.34%.

Insider Activity

In other Phillips 66 news, Director Robert W. Pease acquired 439 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average cost of $113.85 per share, with a total value of $49,980.15. Following the completion of the purchase, the director now directly owns 4,091 shares of the company's stock, valued at $465,760.35. This represents a 12.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.22% of the company's stock.

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.