Crossmark Global Holdings Inc. Decreases Stake in Phillips 66 (NYSE:PSX)

Crossmark Global Holdings Inc. trimmed its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 70.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Crewe Advisors LLC acquired a new stake in Phillips 66 in the first quarter worth about $25,000. nVerses Capital LLC acquired a new stake in shares of Phillips 66 in the third quarter valued at approximately $26,000. Bank & Trust Co acquired a new stake in shares of Phillips 66 in the second quarter valued at about $31,000. Values First Advisors Inc. bought a new position in shares of Phillips 66 in the third quarter valued at $30,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Phillips 66 in the 2nd quarter valued at about $34,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PSX. Scotiabank cut 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 report on Thursday, October 10th. TD Cowen cut their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a "buy" rating on the stock in a report on Wednesday, September 11th. Raymond James lifted their price objective on Phillips 66 from $150.00 to $155.00 and gave the stock an "outperform" rating in a report on Wednesday, July 31st. Wells Fargo & Company reduced their target price on Phillips 66 from $182.00 to $167.00 and set an "overweight" rating for the company in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. dropped their target price on Phillips 66 from $160.00 to $141.00 and set an "overweight" rating for the company in a report on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $149.69.

Phillips 66 Price Performance

Phillips 66 stock traded up $2.22 during trading hours on Wednesday, hitting $129.92. 1,962,006 shares of the company traded hands, compared to its average volume of 2,666,202. 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 1-year low of $111.90 and a 1-year high of $174.08. The firm has a market cap of $53.66 billion, a P/E ratio of 16.38, a P/E/G ratio of 4.18 and a beta of 1.33. The firm's 50-day simple moving average is $129.73 and its two-hundred day simple moving average is $136.04.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm's revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.63 EPS. As a group, analysts forecast that Phillips 66 will post 7.63 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.54%. Phillips 66's dividend payout ratio is presently 59.05%.

Insider Transactions at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company'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 sale, the chief financial officer now owns 81,937 shares of the company's stock, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.22% of the stock is currently owned by 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.