Neuberger Berman Group LLC Purchases 444,585 Shares of Phillips 66 (NYSE:PSX)

Neuberger Berman Group LLC raised its position in Phillips 66 (NYSE:PSX) by 41.5% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,515,150 shares of the oil and gas company’s stock after acquiring an additional 444,585 shares during the period. Neuberger Berman Group LLC owned about 0.35% of Phillips 66 worth $128,824,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSX. Geode Capital Management LLC lifted its stake in Phillips 66 by 17.5% in the 2nd quarter. Geode Capital Management LLC now owns 7,459,489 shares of the oil and gas company’s stock valued at $638,329,000 after acquiring an additional 1,109,917 shares in the last quarter. BlackRock Inc. lifted its stake in Phillips 66 by 1.9% in the 2nd quarter. BlackRock Inc. now owns 34,064,275 shares of the oil and gas company’s stock valued at $2,923,398,000 after acquiring an additional 649,223 shares in the last quarter. Nan Shan Life Insurance Co. Ltd. lifted its stake in Phillips 66 by 55.7% in the 2nd quarter. Nan Shan Life Insurance Co. Ltd. now owns 1,120,571 shares of the oil and gas company’s stock valued at $96,167,000 after acquiring an additional 400,800 shares in the last quarter. Key Group Holdings Cayman LTD. acquired a new position in shares of Phillips 66 during the 1st quarter worth approximately $29,964,000. Finally, OLD Republic International Corp increased its position in shares of Phillips 66 by 94.0% during the 2nd quarter. OLD Republic International Corp now owns 722,500 shares of the oil and gas company’s stock worth $62,005,000 after purchasing an additional 350,000 shares during the last quarter. Hedge funds and other institutional investors own 69.06% of the company’s stock.

Shares of NYSE PSX opened at $81.87 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.08 and a quick ratio of 0.76. The stock’s fifty day moving average price is $71.22 and its two-hundred day moving average price is $78.56. Phillips 66 has a one year low of $43.27 and a one year high of $94.34. The firm has a market cap of $35.86 billion, a price-to-earnings ratio of -21.10, a P/E/G ratio of 1.65 and a beta of 1.69.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Monday, August 2nd. The oil and gas company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.14. Phillips 66 had a negative return on equity of 3.24% and a negative net margin of 2.05%. The firm had revenue of $27.89 billion for the quarter, compared to analyst estimates of $21.05 billion. During the same period in the prior year, the firm posted ($0.74) EPS. On average, equities analysts anticipate that Phillips 66 will post 1.94 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 1st. Shareholders of record on Wednesday, November 17th will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 4.49%. This is a positive change from Phillips 66’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Tuesday, November 16th. Phillips 66’s dividend payout ratio is currently -404.49%.

PSX has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price target on Phillips 66 from $96.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, June 24th. lowered their price target on Phillips 66 from $126.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, July 9th. Barclays lowered their price target on Phillips 66 from $95.00 to $88.00 and set an “overweight” rating on the stock in a research report on Thursday, July 8th. Citigroup boosted their price target on Phillips 66 from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 6th. Finally, Morgan Stanley assumed coverage on Phillips 66 in a report on Tuesday, September 7th. They set an “equal weight” rating and a $80.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $84.63.

About Phillips 66

Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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