4,368,016 Shares in Phillips 66 (NYSE:PSX) Acquired by Norges Bank

Norges Bank bought a new stake in Phillips 66 (NYSE:PSX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,368,016 shares of the oil and gas company's stock, valued at approximately $497,648,000. Norges Bank owned about 1.06% of Phillips 66 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in PSX. Bogart Wealth LLC boosted its holdings in shares of Phillips 66 by 120.0% in the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock valued at $25,000 after acquiring an additional 120 shares during the period. J.Safra Asset Management Corp purchased a new stake in Phillips 66 in the 4th quarter valued at $25,000. Stephens Consulting LLC boosted its stake in Phillips 66 by 83.5% during the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 111 shares during the period. Graney & King LLC purchased a new position in Phillips 66 during the 4th quarter worth $28,000. Finally, Human Investing LLC acquired a new position in Phillips 66 in the fourth quarter valued at $30,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Phillips 66 stock traded up $0.99 during mid-day trading on Tuesday, reaching $124.47. The company had a trading volume of 1,232,142 shares, compared to its average volume of 3,512,436. The stock's 50-day simple moving average is $124.82 and its 200-day simple moving average is $125.50. The company has a market capitalization of $50.74 billion, a P/E ratio of 25.20, a P/E/G ratio of 4.84 and a beta of 1.31. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08.

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Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data 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 period last year, the firm earned $3.09 EPS. On average, equities analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a $1.15 dividend. The ex-dividend date was Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 3.70%. Phillips 66's dividend payout ratio is presently 93.12%.

Analysts Set New Price Targets

PSX has been the topic of a number of research reports. 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. Wells Fargo & Company lifted their target price on Phillips 66 from $161.00 to $162.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Barclays upped their price target on Phillips 66 from $115.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. StockNews.com lowered shares of Phillips 66 from a "hold" rating to a "sell" rating in a research report on Sunday, March 2nd. Finally, Wolfe Research raised shares of Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $146.43.

Phillips 66 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.