Norinchukin Bank The Purchases 3,428 Shares of Phillips 66 (NYSE:PSX)

Norinchukin Bank The lifted its holdings in Phillips 66 (NYSE:PSX - Free Report) by 17.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,812 shares of the oil and gas company's stock after purchasing an additional 3,428 shares during the quarter. Norinchukin Bank The's holdings in Phillips 66 were worth $2,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bogart Wealth LLC lifted its stake in Phillips 66 by 120.0% during the 4th 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 bought a new stake in Phillips 66 in the 4th quarter worth approximately $25,000. Stephens Consulting LLC boosted its stake in shares of Phillips 66 by 83.5% in the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock worth $28,000 after buying an additional 111 shares during the last quarter. Graney & King LLC purchased a new position in Phillips 66 in the fourth quarter worth about $28,000. Finally, Human Investing LLC purchased a new stake in shares of Phillips 66 during the 4th quarter valued at about $30,000. 76.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

PSX has been the topic of a number of analyst reports. Wolfe Research raised Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price objective on the stock in a research report on Friday, January 3rd. Piper Sandler cut shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. Raymond James lowered their target price on shares of Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Mizuho cut their price target on Phillips 66 from $140.00 to $132.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Finally, StockNews.com downgraded Phillips 66 from a "hold" rating to a "sell" rating in a research report on Sunday, March 2nd. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $142.00.

Phillips 66 Price Performance

Shares of PSX stock traded up $1.90 on Wednesday, reaching $102.80. The company's stock had a trading volume of 3,055,099 shares, compared to its average volume of 2,901,840. The company has a market capitalization of $41.88 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17. The stock's fifty day simple moving average is $117.31 and its 200-day simple moving average is $121.80. 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 1 year low of $91.01 and a 1 year high of $158.38.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 company earned $3.09 earnings per share. Analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 4.67%. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Monday, May 19th. Phillips 66's dividend payout ratio (DPR) is presently 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.