First Nebraska Trust Co Buys New Holdings in Phillips 66 $PSX

First Nebraska Trust Co bought a new stake in shares of Phillips 66 (NYSE:PSX) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 19,782 shares of the oil and gas company’s stock, valued at approximately $3,344,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of PSX. NFSG Corp grew its holdings in Phillips 66 by 105.6% during the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 75 shares in the last quarter. Axiom Investment Management LLC bought a new stake in Phillips 66 in the 1st quarter worth approximately $27,000. Compass Financial Management LLC purchased a new stake in shares of Phillips 66 during the 2nd quarter worth approximately $28,000. Kelleher Financial Advisors purchased a new stake in shares of Phillips 66 during the 2nd quarter worth approximately $29,000. Finally, J.Safra Asset Management Corp bought a new position in shares of Phillips 66 during the 2nd quarter valued at approximately $30,000. 76.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PSX shares. BMO Capital Markets increased their price objective on shares of Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Piper Sandler boosted their target price on shares of Phillips 66 from $208.00 to $209.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Mizuho upgraded shares of Phillips 66 from a “neutral” rating to an “outperform” rating and upped their target price for the company from $170.00 to $212.00 in a research report on Wednesday, May 27th. Wall Street Zen raised shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 26th. Finally, TD Cowen boosted their price objective on Phillips 66 from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $206.56.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 11,021 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at $18,504,361.28. The trade was a 10.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Richard G. Harbison sold 52,100 shares of Phillips 66 stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total value of $11,657,896.00. Following the sale, the executive vice president directly owned 39,094 shares of the company’s stock, valued at $8,747,673.44. This trade represents a 57.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 100,507 shares of company stock valued at $21,770,810 over the last 90 days. 0.40% of the stock is currently owned by corporate insiders.

Phillips 66 Price Performance

Phillips 66 stock opened at $243.34 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 1.00. The stock has a market cap of $97.10 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 0.18 and a beta of 0.68. The firm has a 50-day moving average of $198.87 and a two-hundred day moving average of $179.44. Phillips 66 has a 1 year low of $124.88 and a 1 year high of $246.95.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.50 by $1.91. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.The company had revenue of $52.04 billion for the quarter, compared to analysts’ expectations of $43.60 billion. During the same quarter in the prior year, the firm earned $2.38 earnings per share. On average, research analysts forecast that Phillips 66 will post 23.86 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s dividend payout ratio is presently 28.95%.

Phillips 66 declared that its board has authorized a share repurchase plan on Friday, July 31st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the oil and gas company to buy up to 11.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

About Phillips 66

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.