Nan Shan Life Insurance Co. Ltd. Has $40.53 Million Holdings in Phillips 66 (NYSE:PSX)


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Nan Shan Life Insurance Co. Ltd. boosted its stake in shares of Phillips 66 (NYSE:PSX) by 227.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 579,520 shares of the oil and gas company’s stock after purchasing an additional 402,520 shares during the quarter. Nan Shan Life Insurance Co. Ltd.’s holdings in Phillips 66 were worth $40,532,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Planned Solutions Inc. acquired a new stake in Phillips 66 during the 3rd quarter worth about $26,000. Klaas Financial Asset Advisors LLC bought a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $26,000. Sageworth Trust Co bought a new stake in shares of Phillips 66 in the third quarter valued at approximately $28,000. Horan Capital Advisors LLC. bought a new stake in shares of Phillips 66 in the third quarter valued at approximately $30,000. Finally, DB Wealth Management Group LLC bought a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 64.56% of the company’s stock.

Shares of NYSE:PSX traded down $0.37 during trading on Tuesday, reaching $83.59. 28,995 shares of the company traded hands, compared to its average volume of 2,900,695. The company’s 50 day moving average is $73.48 and its two-hundred day moving average is $62.78. The firm has a market capitalization of $36.51 billion, a PE ratio of -13.75, a PEG ratio of 3.65 and a beta of 1.67. The company has a quick ratio of 0.75, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. Phillips 66 has a 52 week low of $40.04 and a 52 week high of $89.79.

Phillips 66 (NYSE:PSX) last released its earnings results on Thursday, January 28th. The oil and gas company reported ($1.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.10). Phillips 66 had a negative net margin of 3.45% and a positive return on equity of 3.38%. During the same period in the prior year, the company earned $1.54 EPS. As a group, research analysts anticipate that Phillips 66 will post -0.65 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, March 1st. Stockholders of record on Monday, February 22nd will be given a dividend of $0.90 per share. The ex-dividend date is Friday, February 19th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.31%. Phillips 66’s payout ratio is 44.72%.

Several research firms have issued reports on PSX. JPMorgan Chase & Co. lowered Phillips 66 from an “overweight” rating to a “neutral” rating and set a $65.00 price objective for the company. in a research note on Monday. Piper Sandler dropped their target price on Phillips 66 from $84.00 to $76.00 and set an “overweight” rating on the stock in a research report on Friday, November 13th. Tudor Pickering lowered Phillips 66 from a “buy” rating to a “hold” rating in a research report on Thursday, January 21st. Wolfe Research raised Phillips 66 from a “market perform” rating to an “outperform” rating and set a $63.00 price target on the stock in a research report on Thursday, November 5th. Finally, Cowen lowered their price target on Phillips 66 from $83.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, February 1st. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $71.44.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

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

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