19,793 Shares in Phillips 66 $PSX Bought by First Nebraska Trust Co

First Nebraska Trust Co bought a new stake in Phillips 66 (NYSE:PSX) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 19,793 shares of the oil and gas company’s stock, valued at approximately $3,606,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cozad Asset Management Inc. raised its stake in shares of Phillips 66 by 92.9% during the 1st quarter. Cozad Asset Management Inc. now owns 7,143 shares of the oil and gas company’s stock worth $1,301,000 after buying an additional 3,440 shares during the last quarter. Carlson Capital L.P. grew its stake in Phillips 66 by 256.3% in the 1st quarter. Carlson Capital L.P. now owns 11,757 shares of the oil and gas company’s stock valued at $2,142,000 after acquiring an additional 8,457 shares during the last quarter. Allen Capital Group LLC grew its stake in Phillips 66 by 4.6% in the 1st quarter. Allen Capital Group LLC now owns 6,501 shares of the oil and gas company’s stock valued at $1,184,000 after acquiring an additional 288 shares during the last quarter. Axiom Investment Management LLC purchased a new position in Phillips 66 during the 1st quarter valued at about $27,000. Finally, Summitry LLC acquired a new position in Phillips 66 during the first quarter worth about $313,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Up 0.5%

Shares of NYSE PSX opened at $211.56 on Friday. The firm has a market cap of $84.82 billion, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 0.17 and a beta of 0.69. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. Phillips 66 has a 1 year low of $118.07 and a 1 year high of $216.08. The firm’s 50 day moving average price is $185.51 and its 200 day moving average price is $170.67.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. During the same period in the previous year, the firm posted ($0.90) EPS. Phillips 66’s revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Phillips 66 will post 22.43 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s dividend payout ratio is presently 50.05%.

Phillips 66 declared that its Board of Directors has authorized a stock repurchase program on Friday, July 31st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to purchase up to 11.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. BMO Capital Markets upped their price target on shares of Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Scotiabank lifted their price objective on Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Guggenheim raised Phillips 66 to an “outperform” rating in a research note on Wednesday, May 27th. TD Cowen increased their target price on Phillips 66 from $220.00 to $240.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. boosted their price target on Phillips 66 from $188.00 to $202.00 in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $201.72.

Phillips 66 News Summary

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Phillips 66’s board authorized an additional $10 billion for share repurchases. The expanded authorization gives the refiner substantial flexibility to return capital, potentially reducing the share count, supporting future earnings per share and signaling management’s confidence in the company’s long-term cash generation. Phillips 66 approves $10 billion increase to share repurchase program
• Positive Sentiment: Recent strength across energy stocks and better-than-expected results from refining peer Valero Energy suggest a supportive sector backdrop for Phillips 66 ahead of its own quarterly report. Valero Energy Beats Q2 Earnings and Revenue Estimates
• Neutral Sentiment: Analysts are focusing on Phillips 66’s upcoming earnings, with expectations supported by softer crude costs and potentially stronger refinery margins. The report could provide the next major catalyst for PSX.
• Negative Sentiment: The stock’s premium valuation raises the stakes for the upcoming results. Any disappointment in refining margins, guidance or cash flow could limit the benefit of the buyback announcement. Phillips 66’s Q2 Earnings on Deck: Should You Bet on the Stock?

Insider Activity at Phillips 66

In other news, CFO Kevin J. Mitchell sold 29,400 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at $16,553,920. This represents a 23.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kevin Omar Meyers bought 175 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was bought at an average price of $173.12 per share, with a total value of $30,296.00. Following the completion of the acquisition, the director owned 16,799 shares of the company’s stock, valued at $2,908,242.88. This trade represents a 1.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 45,107 shares of company stock worth $8,057,584. 0.40% of the stock is currently owned by insiders.

Phillips 66 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.