Kerusso Capital Management LLC Has $4.07 Million Stake in Phillips 66 (NYSE:PSX)

Kerusso Capital Management LLC raised its stake in Phillips 66 (NYSE:PSX) by 6.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,936 shares of the oil and gas company’s stock after acquiring an additional 1,858 shares during the period. Phillips 66 makes up 2.6% of Kerusso Capital Management LLC’s portfolio, making the stock its 7th largest holding. Kerusso Capital Management LLC’s holdings in Phillips 66 were worth $4,067,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Manning & Napier Advisors LLC purchased a new stake in shares of Phillips 66 in the second quarter worth about $17,670,000. Van ECK Associates Corp raised its holdings in shares of Phillips 66 by 263.3% during the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after acquiring an additional 60,355 shares in the last quarter. M&G Plc bought a new position in shares of Phillips 66 during the 2nd quarter valued at approximately $3,596,000. Meeder Asset Management Inc. purchased a new position in shares of Phillips 66 in the first quarter valued at $1,283,000. Finally, Cetera Investment Advisers increased its position in Phillips 66 by 318.9% in the first quarter. Cetera Investment Advisers now owns 142,548 shares of the oil and gas company’s stock worth $23,284,000 after purchasing an additional 108,515 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on PSX. Scotiabank lowered their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Raymond James lifted their price target on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Wolfe Research began coverage on Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Mizuho cut their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $150.38.

Phillips 66 Stock Down 0.2 %

Shares of NYSE PSX traded down $0.23 during midday trading on Friday, reaching $126.45. 3,126,003 shares of the company’s stock traded hands, compared to its average volume of 2,667,594. The company has a market cap of $52.22 billion, a price-to-earnings ratio of 16.23, a P/E/G ratio of 4.17 and a beta of 1.33. The stock’s 50 day simple moving average is $130.12 and its 200-day simple moving average is $136.72. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a one year low of $110.54 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $4.63 EPS. On average, analysts predict that Phillips 66 will post 7.68 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Monday, November 18th. Phillips 66’s payout ratio is 59.05%.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 in the company, valued at $11,390,062.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.22% of the company’s stock.

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.