Phillips 66 $PSX Shares Newly Purchased by First Nebraska Trust Co

First Nebraska Trust Co bought a new position in Phillips 66 (NYSE:PSX) in the third quarter, HoldingsChannel reports. The fund bought 19,229 shares of the oil and gas company’s stock, valued at approximately $4,909,000.

Several other large investors have also recently bought and sold shares of the company. Next Level Wealth Planning LLC acquired a new stake in shares of Phillips 66 during the third quarter valued at about $36,000. NFSG Corp increased its stake in shares of Phillips 66 by 105.6% in the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 75 shares during the period. Axiom Investment Management LLC acquired a new position in shares of Phillips 66 in the first quarter valued at approximately $27,000. Compass Financial Management LLC acquired a new position in shares of Phillips 66 in the second quarter valued at approximately $28,000. Finally, Kelleher Financial Advisors bought a new position in Phillips 66 in the 2nd quarter valued at approximately $29,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Performance

Shares of PSX opened at $271.86 on Wednesday. The firm has a market capitalization of $106.05 billion, a P/E ratio of 8.68, a P/E/G ratio of 0.15 and a beta of 0.69. The stock has a 50 day moving average price of $267.41 and a two-hundred day moving average price of $199.84. Phillips 66 has a 52 week low of $127.16 and a 52 week high of $299.39. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.04 and a current ratio of 1.34.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, October 28th. The oil and gas company reported $14.08 EPS for the quarter, topping the consensus estimate of $11.73 by $2.35. The firm had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $44.91 billion. Phillips 66 had a net margin of 7.27% and a return on equity of 33.12%. During the same quarter last year, the firm earned $2.52 EPS. Equities analysts forecast that Phillips 66 will post 33.22 earnings per share for the current fiscal year.

Phillips 66 announced that its board has initiated a share repurchase plan on Friday, July 31st that authorizes the company to buy back $10 billion in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 11.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 17th will be issued a dividend of $1.33 per share. This represents a $5.32 annualized dividend and a yield of 2.0%. This is a boost from Phillips 66’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Tuesday, November 17th. Phillips 66’s payout ratio is currently 16.22%.

Insider Activity at Phillips 66

In related news, EVP Brian Mandell sold 23,400 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $265.06, for a total transaction of $6,202,404.00. Following the sale, the executive vice president directly owned 61,595 shares in the company, valued at approximately $16,326,370.70. This represents a 27.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Richard Harbison sold 52,100 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total transaction of $11,657,896.00. Following the completion of the transaction, the executive vice president directly owned 39,094 shares of the company’s stock, valued at approximately $8,747,673.44. This trade represents a 57.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 108,800 shares of company stock worth $25,016,566. Insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the topic of several recent research reports. Citigroup lifted their target price on shares of Phillips 66 from $217.00 to $297.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 13th. Wells Fargo & Company lifted their price target on shares of Phillips 66 from $345.00 to $346.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Barclays increased their price objective on Phillips 66 from $216.00 to $282.00 and gave the company an “equal weight” rating in a report on Monday, October 12th. Morgan Stanley lifted their target price on Phillips 66 from $284.00 to $290.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Zacks Research raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $269.82.

Key Stories Impacting Phillips 66

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Analyst support: Morgan Stanley issued a Buy rating and raised its price target to $290, implying about 6.7% upside from the cited $271.86 share price. Morgan Stanley Issues a Buy Rating on Phillips 66 (PSX)
• Positive Sentiment: Refining momentum: Zacks included PSX among energy stocks showing momentum after October’s rally, pointing to strong quarterly earnings, favorable refining conditions and improving growth prospects. Buy 3 Energy Stocks as November Momentum Builds Up Post Choppy October
• Positive Sentiment: Renewable-fuels opportunity: Phillips 66’s long-term agreement with Restaurant Technologies will supply traceable used cooking oil for renewable fuel production in California, supporting feedstock availability for sustainable aviation fuel. The longer-term commercial potential may help diversify growth, though the articles provide no financial impact estimate. From Fryer to Flyer: Converting Used Cooking Oil into Sustainable Aviation Fuel
• Neutral Sentiment: Technical signal: Zacks noted PSX moved above its 20-day moving average, a short-term bullish indicator, but this chart signal does not establish a change in the company’s fundamentals. Phillips 66 (PSX) Just Flashed Golden Cross Signal: Do You Buy?
• Negative Sentiment: More cautious rating: Freedom Broker upgraded PSX from Sell to Hold and lifted its target to $258, which remains below the cited share price and signals limited near-term upside in its view. Freedom Broker recommendations

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an energy manufacturing and logistics company headquartered in Houston, Texas. The company was established in 2012 following the separation of ConocoPhillips’ downstream and midstream businesses.

Phillips 66 operates across midstream, chemicals, refining and marketing. Its midstream activities include gathering, processing, transporting and storing crude oil, natural gas and natural gas liquids. Through its refining operations, the company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, lubricants and other refined petroleum products.

The company markets fuel and related products under the Phillips 66, 76 and Conoco brands, serving retail, commercial, aviation and industrial customers.