Norinchukin Bank The Increases Stake in Phillips 66 (NYSE:PSX)

Norinchukin Bank The boosted its position in shares of Phillips 66 (NYSE:PSX) by 17.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,812 shares of the oil and gas company’s stock after acquiring an additional 3,428 shares during the period. Norinchukin Bank The’s holdings in Phillips 66 were worth $2,599,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Oppenheimer & Co. Inc. increased its position in shares of Phillips 66 by 10.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock worth $5,349,000 after purchasing an additional 4,515 shares in the last quarter. Flavin Financial Services Inc. acquired a new stake in Phillips 66 during the 4th quarter worth $1,190,000. Everence Capital Management Inc. acquired a new position in Phillips 66 in the fourth quarter valued at $3,033,000. Donoghue Forlines LLC acquired a new position in Phillips 66 in the 4th quarter valued at about $1,438,000. Finally, Smith Group Asset Management LLC purchased a new stake in Phillips 66 during the 4th quarter valued at approximately $1,149,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Phillips 66 stock opened at $98.88 on Friday. The firm has a market capitalization of $40.29 billion, a P/E ratio of 20.02, a PEG ratio of 4.84 and a beta of 1.17. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a fifty day moving average price of $118.36 and a 200 day moving average price of $122.36. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $159.25.

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

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a dividend of $1.15 per share. The ex-dividend date was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 4.65%. Phillips 66’s payout ratio is currently 93.12%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PSX shares. Wells Fargo & Company boosted their target price on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Scotiabank cut their price objective on shares of Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. The Goldman Sachs Group downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective for the company. in a research report on Thursday, March 27th. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. Finally, Barclays cut their price objective on Phillips 66 from $135.00 to $106.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.00.

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.