Norden Group LLC Buys 2,039 Shares of Phillips 66 (NYSE:PSX)

Norden Group LLC grew its stake in Phillips 66 (NYSE:PSX) by 58.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,508 shares of the oil and gas company’s stock after acquiring an additional 2,039 shares during the quarter. Norden Group LLC’s holdings in Phillips 66 were worth $628,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its stake in Phillips 66 by 19.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,444 shares of the oil and gas company’s stock worth $386,000 after purchasing an additional 556 shares in the last quarter. Purkiss Capital Advisors LLC bought a new stake in Phillips 66 during the 4th quarter worth approximately $232,000. Jacobi Capital Management LLC increased its stake in Phillips 66 by 7.1% during the 4th quarter. Jacobi Capital Management LLC now owns 11,076 shares of the oil and gas company’s stock worth $1,262,000 after purchasing an additional 736 shares in the last quarter. Metis Global Partners LLC increased its stake in Phillips 66 by 7.9% during the 4th quarter. Metis Global Partners LLC now owns 25,151 shares of the oil and gas company’s stock worth $2,865,000 after purchasing an additional 1,848 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in Phillips 66 by 17.6% during the 4th quarter. Fisher Asset Management LLC now owns 6,157 shares of the oil and gas company’s stock worth $702,000 after purchasing an additional 920 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Wells Fargo & Company increased their target price on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research report on Friday, January 3rd. Barclays reduced their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, Mizuho reduced their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten 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 $148.00.

Phillips 66 Trading Down 3.6 %

NYSE PSX opened at $125.03 on Tuesday. The company has a market cap of $50.97 billion, a PE ratio of 25.31, a PEG ratio of 4.84 and a beta of 1.37. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08. The stock has a 50 day moving average of $120.89 and a 200-day moving average of $126.63.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period last year, the company posted $3.09 earnings per share. On average, equities research analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.68%. The ex-dividend date is Monday, February 24th. Phillips 66’s dividend payout ratio is 93.12%.

Phillips 66 Company 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.