Phillips 66 (NYSE:PSX) Shares Acquired by Norden Group LLC

Norden Group LLC boosted its stake in Phillips 66 (NYSE:PSX) by 2,848.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,716 shares of the oil and gas company’s stock after buying an additional 61,555 shares during the quarter. Norden Group LLC’s holdings in Phillips 66 were worth $10,409,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Lazard Asset Management LLC boosted its stake in Phillips 66 by 1,562.6% during the 3rd quarter. Lazard Asset Management LLC now owns 3,774 shares of the oil and gas company’s stock worth $452,000 after purchasing an additional 3,547 shares during the last quarter. Axxcess Wealth Management LLC raised its holdings in Phillips 66 by 260.6% in the 3rd quarter. Axxcess Wealth Management LLC now owns 13,050 shares of the oil and gas company’s stock valued at $1,568,000 after acquiring an additional 9,431 shares during the last quarter. Ellerson Group Inc. ADV lifted its stake in Phillips 66 by 0.7% in the 3rd quarter. Ellerson Group Inc. ADV now owns 29,152 shares of the oil and gas company’s stock worth $3,503,000 after purchasing an additional 197 shares in the last quarter. Lido Advisors LLC grew its position in shares of Phillips 66 by 7.2% in the third quarter. Lido Advisors LLC now owns 12,542 shares of the oil and gas company’s stock valued at $1,507,000 after purchasing an additional 845 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in shares of Phillips 66 by 145.6% in the third quarter. Schroder Investment Management Group now owns 195,128 shares of the oil and gas company’s stock valued at $23,445,000 after purchasing an additional 115,673 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PSX. Scotiabank upped their target price on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Piper Sandler cut their price objective on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. TD Cowen dropped their price target on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, June 21st. Finally, Argus reaffirmed a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a research report on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $157.07.

Insider Transactions at Phillips 66

In related news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the transaction, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Stock Up 0.1 %

NYSE:PSX opened at $140.55 on Thursday. Phillips 66 has a 52 week low of $94.51 and a 52 week high of $174.08. The stock’s fifty day moving average is $142.22 and its two-hundred day moving average is $144.98. The stock has a market capitalization of $59.59 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 2.13 and a beta of 1.34. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The firm had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same period in the previous year, the company posted $4.21 EPS. Research analysts anticipate that Phillips 66 will post 10.99 EPS for the current year.

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.