DnB Asset Management AS Acquires 458 Shares of Phillips 66 (NYSE:PSX)

DnB Asset Management AS raised its holdings in shares of Phillips 66 (NYSE:PSX) by 26.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,222 shares of the oil and gas company’s stock after acquiring 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).

Several other institutional investors have also recently made changes to their positions in PSX. Point72 Hong Kong Ltd purchased a new position in Phillips 66 during the third quarter valued at approximately $40,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Phillips 66 during the 3rd quarter valued at $292,000. Benjamin Edwards Inc. increased its holdings in shares of 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 during the period. Holocene Advisors LP purchased a new stake in shares of Phillips 66 in the third quarter worth $6,386,000. Finally, Janus Henderson Group PLC boosted its stake 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. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $124.11 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a fifty-two week low of $108.91 and a fifty-two week high of $174.08. The business has a 50 day moving average price of $125.02 and a 200-day moving average price of $125.48. The firm has a market cap of $50.60 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 prior year, the business posted $3.09 earnings per share. Equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.71%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is currently 93.12%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Mizuho lowered their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research note on Friday, January 3rd. The Goldman Sachs Group cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price target for the company. in a research note on Thursday, March 27th. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Finally, Barclays upped their target price on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $146.43.

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.