Cozad Asset Management Inc. Purchases 4,156 Shares of Phillips 66 (NYSE:PSX)

Cozad Asset Management Inc. grew its position in shares of Phillips 66 (NYSE:PSX) by 17.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,046 shares of the oil and gas company’s stock after purchasing an additional 4,156 shares during the quarter. Cozad Asset Management Inc.’s holdings in Phillips 66 were worth $3,734,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its position in shares of Phillips 66 by 134.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after buying an additional 151 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in shares of Phillips 66 during the 4th quarter worth approximately $36,000. Bell Investment Advisors Inc grew its position in shares of Phillips 66 by 82.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after buying an additional 138 shares during the period. West Branch Capital LLC grew its position in shares of Phillips 66 by 49.5% during the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after buying an additional 91 shares during the period. Finally, Headinvest LLC acquired a new stake in shares of Phillips 66 during the 3rd quarter worth approximately $51,000. Institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In other news, Director Robert W. Pease acquired 682 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the purchase, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the sale, the vice president now directly owns 6,583 shares in the company, valued at $1,035,242.58. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert W. Pease purchased 682 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were bought at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the transaction, the director now owns 1,900 shares of the company’s stock, valued at $278,502. The disclosure for this purchase can be found here. In the last three months, insiders have sold 35,056 shares of company stock worth $5,272,681. Company insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PSX shares. Piper Sandler lifted their price target on shares of Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Raymond James lifted their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. The Goldman Sachs Group lifted their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Bank of America lifted their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Finally, Barclays reduced their price target on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $157.43.

Phillips 66 Stock Performance

Shares of NYSE PSX traded down $6.74 during mid-day trading on Tuesday, reaching $144.80. 1,415,048 shares of the company’s stock were exchanged, compared to its average volume of 2,953,968. The firm has a market capitalization of $61.95 billion, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 1.83 and a beta of 1.37. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. The firm has a 50-day moving average price of $155.70 and a two-hundred day moving average price of $137.52.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The business had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a return on equity of 19.07% and a net margin of 3.84%. During the same quarter in the previous year, the firm earned $4.21 earnings per share. Analysts predict that Phillips 66 will post 13.77 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a $1.15 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Friday, May 17th. Phillips 66’s payout ratio is currently 32.31%.

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.