Phillips 66 (NYSE:PSX) Shares Bought by Norden Group LLC

Norden Group LLC boosted its holdings in shares of Phillips 66 (NYSE:PSXFree Report) by 73.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,743 shares of the oil and gas company’s stock after purchasing an additional 1,582 shares during the period. Norden Group LLC’s holdings in Phillips 66 were worth $611,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Phillips 66 during the 4th quarter worth $27,000. Redmont Wealth Advisors LLC acquired a new stake in Phillips 66 during the 1st quarter worth about $28,000. First United Bank & Trust purchased a new stake in Phillips 66 during the fourth quarter valued at about $31,000. Signature Resources Capital Management LLC acquired a new position in shares of Phillips 66 in the fourth quarter worth about $33,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of Phillips 66 during the fourth quarter valued at approximately $36,000. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PSX shares. The Goldman Sachs Group boosted their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Piper Sandler cut their target price on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Barclays decreased their price target on Phillips 66 from $142.00 to $136.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. decreased their price target on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $156.64.

Read Our Latest Report on PSX

Insiders Place Their Bets

In other news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the sale, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX stock opened at $133.97 on Thursday. Phillips 66 has a one year low of $98.65 and a one year high of $174.08. The firm has a 50-day moving average of $140.63 and a 200-day moving average of $145.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. The company has a market cap of $56.80 billion, a P/E ratio of 10.31, a P/E/G ratio of 2.13 and a beta of 1.34.

Phillips 66 (NYSE:PSXGet Free Report) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The firm had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same quarter in the previous year, the company posted $4.21 EPS. Equities research analysts forecast that Phillips 66 will post 10.62 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.43%. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Phillips 66 Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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