Norden Group LLC Increases Stock Holdings in Phillips 66 (NYSE:PSX)

Norden Group LLC grew its holdings in shares of Phillips 66 (NYSE:PSX) by 16.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,161 shares of the oil and gas company’s stock after acquiring an additional 301 shares during the period. Norden Group LLC’s holdings in Phillips 66 were worth $288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC boosted its position in shares of Phillips 66 by 3,825.0% during the third quarter. Exchange Traded Concepts LLC now owns 1,727 shares of the oil and gas company’s stock worth $207,000 after buying an additional 1,683 shares during the period. Commonwealth Equity Services LLC raised its position in shares of Phillips 66 by 1.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 282,152 shares of the oil and gas company’s stock worth $33,901,000 after buying an additional 5,380 shares in the last quarter. Vicus Capital acquired a new stake in Phillips 66 in the third quarter worth approximately $212,000. Robeco Institutional Asset Management B.V. boosted its stake in Phillips 66 by 78.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 237,097 shares of the oil and gas company’s stock valued at $28,487,000 after buying an additional 104,510 shares in the last quarter. Finally, Private Ocean LLC lifted its holdings in Phillips 66 by 47.6% in the 3rd quarter. Private Ocean LLC now owns 465 shares of the oil and gas company’s stock valued at $56,000 after acquiring an additional 150 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Trading Down 2.1 %

Shares of Phillips 66 stock opened at $140.17 on Thursday. The stock has a market capitalization of $59.43 billion, a P/E ratio of 10.78, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The company has a 50-day simple moving average of $155.67 and a 200 day simple moving average of $137.76.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The business had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. During the same quarter in the previous year, the firm posted $4.21 EPS. Research analysts expect that Phillips 66 will post 13.13 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is 32.31%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the sale, the vice president now owns 6,583 shares in the company, valued at approximately $1,036,164.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Robert W. Pease acquired 682 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was acquired at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the transaction, the director now directly owns 1,900 shares in the company, valued at $278,502. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the transaction, the vice president now owns 6,583 shares in the company, valued at $1,036,164.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,056 shares of company stock worth $5,272,681. Company insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PSX. Barclays reduced their target price on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a report on Tuesday. Citigroup assumed coverage on shares of Phillips 66 in a research report on Wednesday, January 24th. They issued a “buy” rating on the stock. Wells Fargo & Company upped their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Bank of America lifted their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Finally, The Goldman Sachs Group increased their target price on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Five 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 an average rating of “Moderate Buy” and a consensus target price of $157.43.

About Phillips 66

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.