Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stock Position in Phillips 66 (NYSE:PSX)

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Phillips 66 (NYSE:PSX) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,608 shares of the oil and gas company’s stock after buying an additional 207 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Phillips 66 were worth $5,407,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PSX. Barclays PLC raised its holdings in Phillips 66 by 4.2% in the 3rd quarter. Barclays PLC now owns 7,760,709 shares of the oil and gas company’s stock worth $932,447,000 after acquiring an additional 309,239 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Phillips 66 by 2.1% during the third quarter. Morgan Stanley now owns 6,768,960 shares of the oil and gas company’s stock valued at $813,291,000 after purchasing an additional 138,646 shares in the last quarter. Northern Trust Corp boosted its position in shares of Phillips 66 by 6.2% during the third quarter. Northern Trust Corp now owns 4,881,094 shares of the oil and gas company’s stock valued at $586,463,000 after buying an additional 283,010 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Phillips 66 by 12.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,570,590 shares of the oil and gas company’s stock worth $549,156,000 after buying an additional 502,785 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Phillips 66 by 21.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,946,809 shares of the oil and gas company’s stock worth $233,909,000 after buying an additional 350,211 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Robert W. Pease acquired 682 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was purchased at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the purchase, the director now directly owns 1,900 shares in the company, valued at approximately $278,502. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Robert W. Pease bought 682 shares of the stock in a transaction dated Thursday, February 15th. The shares were purchased at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the acquisition, the director now owns 1,900 shares of the company’s stock, valued at $278,502. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Joseph Scott Pruitt sold 5,922 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The disclosure for this sale can be found here. Insiders have sold a total of 35,056 shares of company stock valued at $5,272,681 over the last ninety days. 0.22% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PSX. Mizuho dropped their price target on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Wells Fargo & Company boosted their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Citigroup initiated coverage on Phillips 66 in a research note on Wednesday, January 24th. They issued a “buy” rating on the stock. Raymond James upped their price objective on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Finally, Bank of America increased their target price on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Five equities research 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $158.00.

Phillips 66 Trading Up 1.5 %

Phillips 66 stock opened at $157.05 on Tuesday. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The firm has a market capitalization of $67.19 billion, a price-to-earnings ratio of 10.15, a P/E/G ratio of 1.92 and a beta of 1.37. The firm has a 50 day moving average of $154.65 and a 200 day moving average of $135.96. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. The business had revenue of $38.74 billion during the quarter, compared to analyst estimates of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. As a group, research analysts predict that Phillips 66 will post 13.45 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is presently 27.15%.

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.