Kerusso Capital Management LLC Invests $4.11 Million in Phillips 66 (NYSE:PSX)

Kerusso Capital Management LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX) in the second quarter, Holdings Channel reports. The firm purchased 29,078 shares of the oil and gas company’s stock, valued at approximately $4,105,000. Phillips 66 comprises about 3.0% of Kerusso Capital Management LLC’s portfolio, making the stock its 3rd largest position.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Phillips 66 by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after purchasing an additional 1,578,669 shares during the last quarter. Wellington Management Group LLP grew its position in Phillips 66 by 20.3% during the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after buying an additional 1,842,226 shares during the period. Bank of New York Mellon Corp increased its holdings in Phillips 66 by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock worth $1,189,035,000 after buying an additional 402,925 shares during the last quarter. Boston Partners raised its position in Phillips 66 by 41.4% in the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after acquiring an additional 1,595,722 shares during the period. Finally, Norges Bank purchased a new position in Phillips 66 in the fourth quarter valued at about $559,435,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Price Performance

PSX stock opened at $128.14 on Friday. The firm has a 50 day moving average of $137.16 and a 200-day moving average of $144.85. The firm has a market capitalization of $54.33 billion, a P/E ratio of 9.86, a price-to-earnings-growth ratio of 2.53 and a beta of 1.33. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.98 by $0.33. The firm had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the firm earned $3.87 EPS. As a group, sell-side analysts predict that Phillips 66 will post 9.25 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a $1.15 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.59%. Phillips 66’s dividend payout ratio is currently 35.38%.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PSX shares. JPMorgan Chase & Co. lowered their price target on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Mizuho lowered their target price on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Scotiabank cut their price target on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. TD Cowen boosted their price objective on Phillips 66 from $155.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Piper Sandler cut their target price on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus target price of $157.85.

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.