Thrivent Financial for Lutherans Boosts Stake in Phillips 66 $PSX

Thrivent Financial for Lutherans increased its position in shares of Phillips 66 (NYSE:PSX) by 81.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 42,205 shares of the oil and gas company’s stock after buying an additional 18,895 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Phillips 66 were worth $5,035,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Phillips 66 by 238.5% during the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after acquiring an additional 7,214 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in Phillips 66 by 12.2% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,403 shares of the oil and gas company’s stock worth $1,778,000 after purchasing an additional 1,567 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in Phillips 66 by 3.0% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 9,839 shares of the oil and gas company’s stock worth $1,215,000 after purchasing an additional 287 shares during the period. Erste Asset Management GmbH purchased a new position in Phillips 66 during the 1st quarter worth $779,000. Finally, Capital Analysts LLC increased its stake in Phillips 66 by 9.1% in the first quarter. Capital Analysts LLC now owns 2,236 shares of the oil and gas company’s stock valued at $276,000 after purchasing an additional 186 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.1%

Shares of PSX opened at $128.95 on Friday. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $144.96. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $51.96 billion, a P/E ratio of 35.23, a PEG ratio of 0.67 and a beta of 0.92. The firm’s 50-day moving average is $135.84 and its two-hundred day moving average is $129.90.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.14 by $0.38. The business had revenue of $33.69 billion for the quarter, compared to analyst estimates of $32.29 billion. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.During the same quarter in the previous year, the company earned $2.04 EPS. On average, research analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were issued a $1.20 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 3.7%. Phillips 66’s dividend payout ratio is 131.15%.

Insider Activity

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $140.00, for a total value 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 represents a 11.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the transaction, the chief financial officer owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. The trade was a 25.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 86,093 shares of company stock worth $11,933,256 over the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PSX has been the subject of several recent research reports. Cowen reiterated a “buy” rating on shares of Phillips 66 in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a research report on Wednesday, October 8th. TD Cowen lifted their target price on Phillips 66 from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Bank of America cut Phillips 66 from a “buy” rating to a “neutral” rating and upped their price target for the stock from $144.00 to $147.00 in a research note on Wednesday, September 3rd. Finally, Piper Sandler lifted their price objective on shares of Phillips 66 from $170.00 to $171.00 and gave the company a “neutral” rating in a research report on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat, Phillips 66 has an average rating of “Hold” and a consensus price target of $148.35.

About Phillips 66

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.