Thurston Springer Miller Herd & Titak Inc. Decreases Stock Holdings in Phillips 66 $PSX

Thurston Springer Miller Herd & Titak Inc. decreased its stake in shares of Phillips 66 (NYSE:PSX) by 94.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,092 shares of the oil and gas company’s stock after selling 38,651 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Phillips 66 were worth $285,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Elliott Investment Management L.P. raised its position in Phillips 66 by 1,929.0% in the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after acquiring an additional 14,950,000 shares during the period. Vanguard Group Inc. raised its holdings in Phillips 66 by 14.8% in the 2nd quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock worth $5,531,702,000 after purchasing an additional 5,978,841 shares during the period. Chronos Wealth Management LLC purchased a new position in Phillips 66 during the second quarter valued at $281,000. Edgestream Partners L.P. purchased a new position in Phillips 66 during the second quarter valued at $4,952,000. Finally, Evergreen Wealth Solutions LLC bought a new stake in Phillips 66 during the first quarter valued at about $292,000. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PSX shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a research note on Wednesday, October 8th. Raymond James Financial raised their target price on shares of Phillips 66 from $153.00 to $169.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. Jefferies Financial Group lifted their price target on shares of Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a report on Friday, October 10th. Zacks Research cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 31st. Finally, Mizuho raised their price objective on shares of Phillips 66 from $145.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $148.35.

Insider Buying and Selling at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $138.00, for a total value of $4,140,000.00. Following the sale, the chief financial officer directly owned 89,771 shares in the company, valued at approximately $12,388,398. The trade was a 25.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the transaction, the executive vice president owned 34,587 shares of the company’s stock, valued at $4,842,180. This represents a 11.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 86,093 shares of company stock valued at $11,933,256 in the last 90 days. Insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 6.9%

Shares of PSX opened at $131.69 on Wednesday. The firm has a market cap of $53.06 billion, a P/E ratio of 35.98, a price-to-earnings-growth ratio of 0.74 and a beta of 0.92. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $144.96. The company has a 50 day simple moving average of $135.82 and a two-hundred day simple moving average of $129.79.

Phillips 66 (NYSE:PSX) last released its 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. Phillips 66 had a net margin of 1.12% and a return on equity of 5.53%. The firm had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. During the same quarter in the previous year, the firm earned $2.04 earnings per share. On average, equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were paid a $1.20 dividend. The ex-dividend date was Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 3.6%. Phillips 66’s payout ratio is presently 131.15%.

Phillips 66 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.