NBC Securities Inc. Reduces Stock Position in Phillips 66 (NYSE:PSX)

NBC Securities Inc. decreased its position in Phillips 66 (NYSE:PSX) by 2.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,261 shares of the oil and gas company’s stock after selling 97 shares during the quarter. NBC Securities Inc.’s holdings in Phillips 66 were worth $695,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PSX. Norges Bank acquired a new position in shares of Phillips 66 in the 4th quarter worth approximately $559,435,000. Boston Partners grew its position in shares of Phillips 66 by 962.0% in the 4th quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock worth $513,327,000 after acquiring an additional 3,494,878 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Phillips 66 during the 4th quarter valued at approximately $254,336,000. Wellington Management Group LLP boosted its position in Phillips 66 by 20.3% during the 4th quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after purchasing an additional 1,842,226 shares during the period. Finally, Public Employees Retirement Association of Colorado boosted its position in Phillips 66 by 4,556.1% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 953,020 shares of the oil and gas company’s stock valued at $126,885,000 after purchasing an additional 932,552 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Down 1.0 %

PSX opened at $135.85 on Thursday. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The stock’s fifty day moving average is $145.64 and its 200-day moving average is $144.06. The company has a market capitalization of $57.59 billion, a PE ratio of 10.45, a P/E/G ratio of 1.92 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The firm had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. During the same period in the prior year, the firm posted $4.21 EPS. On average, equities analysts predict that Phillips 66 will post 11.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were given a dividend of $1.15 per share. The ex-dividend date was Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.39%. Phillips 66’s payout ratio is 35.38%.

Insider Transactions at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the sale, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at $7,051,617. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of analyst reports. Scotiabank boosted their price objective on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. JPMorgan Chase & Co. boosted their price objective on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Bank of America boosted their price objective on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Finally, Barclays reduced their price objective on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 30th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $157.57.

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.