Kesler Norman & Wride LLC Has $5.60 Million Stock Holdings in Phillips 66 (NYSE:PSX)

Kesler Norman & Wride LLC cut its position in Phillips 66 (NYSE:PSX) by 10.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,607 shares of the oil and gas company’s stock after selling 5,100 shares during the period. Kesler Norman & Wride LLC’s holdings in Phillips 66 were worth $5,602,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PSX. Manning & Napier Advisors LLC acquired a new position in Phillips 66 during the 2nd quarter valued at about $17,670,000. M&G Plc acquired a new position in Phillips 66 during the 2nd quarter valued at about $3,596,000. Duality Advisers LP acquired a new position in Phillips 66 during the 1st quarter valued at about $3,596,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Phillips 66 by 42.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock valued at $21,844,000 after purchasing an additional 39,775 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in Phillips 66 by 14.3% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company’s stock valued at $38,530,000 after purchasing an additional 36,116 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

NYSE PSX opened at $138.54 on Tuesday. The company has a 50-day simple moving average of $133.83 and a two-hundred day simple moving average of $142.17. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The firm has a market cap of $58.73 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 5.46 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last issued 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. The firm had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.87 earnings per share. On average, equities analysts forecast that Phillips 66 will post 8.21 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated 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 directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Barclays boosted their target price on Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Wolfe Research assumed coverage on Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. cut their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Mizuho cut their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, TD Cowen cut their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $152.71.

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.