DnB Asset Management AS Boosts Holdings in Phillips 66 (NYSE:PSX)

DnB Asset Management AS lifted its stake in shares of Phillips 66 (NYSE:PSX) by 26.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,222 shares of the oil and gas company’s stock after buying an additional 458 shares during the quarter. DnB Asset Management AS’s holdings in Phillips 66 were worth $253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of PSX. Point72 Hong Kong Ltd purchased a new position in shares of Phillips 66 during the 3rd quarter worth approximately $40,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Phillips 66 in the third quarter worth $292,000. Benjamin Edwards Inc. raised its holdings in Phillips 66 by 557.0% in the third quarter. Benjamin Edwards Inc. now owns 30,072 shares of the oil and gas company’s stock worth $3,954,000 after purchasing an additional 25,495 shares in the last quarter. Holocene Advisors LP purchased a new position in Phillips 66 during the third quarter valued at $6,386,000. Finally, Janus Henderson Group PLC lifted its position in Phillips 66 by 359.5% during the third quarter. Janus Henderson Group PLC now owns 228,165 shares of the oil and gas company’s stock valued at $29,992,000 after buying an additional 178,515 shares during the period. 76.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on PSX shares. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research note on Friday, January 3rd. Mizuho cut their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. The Goldman Sachs Group lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price for the company. in a report on Thursday, March 27th. Wells Fargo & Company upped their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Barclays lifted their price objective on Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $146.43.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $124.11 on Thursday. The firm’s 50-day moving average price is $125.02 and its 200-day moving average price is $125.48. Phillips 66 has a 52-week low of $108.91 and a 52-week high of $174.08. The company has a market cap of $50.60 billion, a PE ratio of 25.12, a PEG ratio of 4.84 and a beta of 1.31. 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 (NYSE:PSX) last issued its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the previous year, the firm posted $3.09 earnings per share. As a group, analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

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.