Thrivent Financial for Lutherans Has $6.64 Million Stock Position in Phillips 66 $PSX

Thrivent Financial for Lutherans increased its stake in shares of Phillips 66 (NYSE:PSX) by 89.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 51,396 shares of the oil and gas company’s stock after buying an additional 24,260 shares during the period. Thrivent Financial for Lutherans’ holdings in Phillips 66 were worth $6,635,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Board of the Pension Protection Fund acquired a new position in Phillips 66 during the 4th quarter worth about $26,000. Accordant Advisory Group Inc lifted its position in Phillips 66 by 900.0% during the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after buying an additional 180 shares in the last quarter. Eagle Bay Advisors LLC acquired a new position in Phillips 66 during the 4th quarter worth about $27,000. Stephens Consulting LLC lifted its position in Phillips 66 by 67.7% during the 4th quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock worth $29,000 after buying an additional 90 shares in the last quarter. Finally, Dorato Capital Management acquired a new position in Phillips 66 during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insiders Place Their Bets

In other Phillips 66 news, Director Kevin Omar Meyers bought 175 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was acquired at an average cost of $173.12 per share, with a total value of $30,296.00. Following the purchase, the director owned 16,799 shares in the company, valued at $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lisa Ann Davis sold 3,800 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $174.37, for a total value of $662,606.00. Following the sale, the director directly owned 8,701 shares of the company’s stock, valued at approximately $1,517,193.37. The trade was a 30.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 114,029 shares of company stock valued at $19,641,455. Insiders own 0.40% of the company’s stock.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $179.54 on Thursday. The company has a market capitalization of $71.98 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 0.27 and a beta of 0.70. The firm’s 50 day simple moving average is $171.72 and its 200 day simple moving average is $152.86. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. Phillips 66 has a fifty-two week low of $109.75 and a fifty-two week high of $190.61.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. During the same period last year, the company posted ($0.90) EPS. Phillips 66’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, sell-side analysts forecast that Phillips 66 will post 17.64 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be issued a dividend of $1.27 per share. The ex-dividend date is Monday, May 18th. This represents a $5.08 annualized dividend and a yield of 2.8%. Phillips 66’s payout ratio is currently 50.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Raymond James Financial upped their target price on shares of Phillips 66 from $205.00 to $215.00 in a research report on Thursday, April 30th. Morgan Stanley restated an “overweight” rating and set a $180.00 target price on shares of Phillips 66 in a research report on Thursday, April 30th. Jefferies Financial Group downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Zacks Research upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Finally, Citigroup upped their target price on shares of Phillips 66 from $159.00 to $183.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $187.11.

Phillips 66 Company Profile

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.