Thurston Springer Miller Herd & Titak Inc. Has $4.86 Million Holdings in Phillips 66 $PSX

Key Points

• Thurston Springer Miller Herd & Titak Inc. increased its stake in Phillips 66 by 22.5% in the second quarter, bringing its holdings to $4.86 million.
• Director Sigmund L. Cornelius purchased 500 shares of Phillips 66 at an average price of $123.55, while EVP Brian Mandell sold 9,800 shares at $125.00.
• Phillips 66 reported a quarterly EPS of $2.38, surpassing estimates of $1.79, with revenues totaling $33.77 billion for the same period.

Thurston Springer Miller Herd & Titak Inc. raised its holdings in Phillips 66 (NYSE:PSX - Free Report) by 22.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,743 shares of the oil and gas company's stock after buying an additional 7,492 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in Phillips 66 were worth $4,861,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PSX. Elliott Investment Management L.P. raised its position in shares of Phillips 66 by 1,929.0% during the first 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 purchasing an additional 14,950,000 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Phillips 66 by 20.3% during 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 period. Alta Advisers Ltd acquired a new position in shares of Phillips 66 during the first quarter worth approximately $253,000. Sustainable Insight Capital Management LLC acquired a new position in shares of Phillips 66 during the first quarter worth approximately $1,457,000. Finally, Evergreen Wealth Solutions LLC bought a new stake in Phillips 66 during the first quarter worth $292,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Sigmund L. Cornelius purchased 500 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were purchased at an average price of $123.55 per share, with a total value of $61,775.00. Following the transaction, the director directly owned 21,543 shares of the company's stock, valued at approximately $2,661,637.65. This represents a 2.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian Mandell sold 9,800 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total value of $1,225,000.00. Following the transaction, the executive vice president directly owned 56,838 shares in the company, valued at $7,104,750. This represents a 14.71% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have bought 9,850 shares of company stock worth $1,188,910 and have sold 18,586 shares worth $2,389,145. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Stock Down 1.3%

Shares of NYSE:PSX opened at $130.77 on Friday. The company has a market capitalization of $52.85 billion, a PE ratio of 31.44, a price-to-earnings-growth ratio of 2.06 and a beta of 1.15. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The business has a fifty day moving average price of $126.95 and a two-hundred day moving average price of $119.55. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $140.60.

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

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Tuesday, August 19th. Phillips 66's dividend payout ratio is 115.38%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Cantor Fitzgerald assumed coverage on Phillips 66 in a report on Wednesday, June 18th. They set a "neutral" rating for the company. Citigroup downgraded Phillips 66 from a "buy" rating to a "neutral" rating and upped their price target for the stock from $126.00 to $130.00 in a report on Wednesday, July 16th. Scotiabank reiterated a "sector perform" rating and set a $133.00 price target on shares of Phillips 66 in a report on Friday, July 11th. Argus upgraded Phillips 66 to a "strong-buy" rating in a report on Thursday, July 31st. Finally, UBS Group upped their price target on Phillips 66 from $141.00 to $143.00 and gave the stock a "buy" rating in a report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $136.40.

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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