Kerusso Capital Management LLC Makes New $4.11 Million Investment in Phillips 66 (NYSE:PSX)

Kerusso Capital Management LLC purchased a new stake in Phillips 66 (NYSE:PSX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 29,078 shares of the oil and gas company’s stock, valued at approximately $4,105,000. Phillips 66 comprises approximately 3.0% of Kerusso Capital Management LLC’s portfolio, making the stock its 3rd largest holding.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Phillips 66 by 4.0% in 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 acquiring an additional 1,578,669 shares during the period. Wellington Management Group LLP increased its holdings in Phillips 66 by 20.3% in 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 purchasing an additional 1,842,226 shares during the period. Bank of New York Mellon Corp increased its holdings in Phillips 66 by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock valued at $1,189,035,000 after purchasing an additional 402,925 shares during the period. Boston Partners raised its position in Phillips 66 by 41.4% during the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after purchasing an additional 1,595,722 shares during the last quarter. Finally, Norges Bank acquired a new position in Phillips 66 during the 4th quarter worth about $559,435,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Down 0.6 %

PSX stock opened at $128.14 on Friday. The stock’s 50 day simple moving average is $137.16 and its 200 day simple moving average is $144.85. The company has a market cap 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. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data 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. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. During the same quarter in the previous year, the company posted $3.87 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. On average, research analysts expect that Phillips 66 will post 9.25 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on 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 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 SEC, which can be accessed through this link. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on PSX. Piper Sandler decreased their price target on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Argus reissued a “buy” rating and set a $167.00 target price on shares of Phillips 66 in a research report on Thursday, May 30th. TD Cowen raised their price target on shares of Phillips 66 from $155.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company upped their price objective on shares of Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Finally, Mizuho lowered their target price on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.85.

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.