Crossmark Global Holdings Inc. Lowers Position in Phillips 66 (NYSE:PSX)

Crossmark Global Holdings Inc. lowered its holdings in Phillips 66 (NYSE:PSX) by 70.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,871 shares of the oil and gas company’s stock after selling 49,669 shares during the period. Crossmark Global Holdings Inc.’s holdings in Phillips 66 were worth $2,744,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Sigma Planning Corp raised its holdings in shares of Phillips 66 by 2.6% in the 3rd quarter. Sigma Planning Corp now owns 13,226 shares of the oil and gas company’s stock valued at $1,739,000 after acquiring an additional 340 shares in the last quarter. Covestor Ltd raised its holdings in shares of Phillips 66 by 25.4% during the 3rd quarter. Covestor Ltd now owns 514 shares of the oil and gas company’s stock valued at $68,000 after buying an additional 104 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its holdings in shares of Phillips 66 by 0.8% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 16,308 shares of the oil and gas company’s stock valued at $2,143,000 after buying an additional 124 shares in the last quarter. XML Financial LLC raised its holdings in shares of Phillips 66 by 4.4% during the 3rd quarter. XML Financial LLC now owns 17,839 shares of the oil and gas company’s stock valued at $2,345,000 after buying an additional 747 shares in the last quarter. Finally, Kerusso Capital Management LLC raised its holdings in shares of Phillips 66 by 6.4% during the 3rd quarter. Kerusso Capital Management LLC now owns 30,936 shares of the oil and gas company’s stock valued at $4,067,000 after buying an additional 1,858 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Barclays reduced their price target on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday. Bank of America began coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective on the stock. Wolfe Research began coverage on Phillips 66 in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Scotiabank cut their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Trading Down 0.2 %

NYSE PSX opened at $127.68 on Wednesday. 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 twelve month low of $111.90 and a twelve month high of $174.08. The firm has a market capitalization of $52.73 billion, a PE ratio of 16.39, a P/E/G ratio of 4.12 and a beta of 1.33. The stock’s 50 day moving average is $129.87 and its 200 day moving average is $136.21.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion during 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 firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.63 earnings per share. Research analysts forecast that Phillips 66 will post 7.68 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date is Monday, November 18th. Phillips 66’s payout ratio is 59.05%.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction 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 directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.22% of the stock is owned by company insiders.

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.