Phillips 66 (NYSE:PSX) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Phillips 66 (NYSE:PSX) by 1.2% during the 3rd quarter, Holdings Channel reports. The fund owned 44,382 shares of the oil and gas company’s stock after purchasing an additional 540 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Phillips 66 were worth $5,834,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Crewe Advisors LLC acquired a new stake in shares of Phillips 66 during the 1st quarter worth approximately $25,000. Keener Financial Planning LLC purchased a new stake in Phillips 66 during the first quarter worth $26,000. Redmont Wealth Advisors LLC acquired a new stake in Phillips 66 during the first quarter valued at $28,000. Ruedi Wealth Management Inc. increased its holdings in Phillips 66 by 102.1% in the first quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 96 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in shares of Phillips 66 in the third quarter worth about $26,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Trading Down 0.6 %

NYSE PSX opened at $132.60 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. Phillips 66 has a one year low of $107.85 and a one year high of $174.08. The company has a 50-day simple moving average of $133.18 and a 200-day simple moving average of $140.43. The firm has a market capitalization of $56.22 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 5.75 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.87 earnings per share. On average, equities analysts forecast that Phillips 66 will post 7.85 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.47%. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Insider Buying and Selling at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.22% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PSX. Mizuho cut their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Raymond James upped their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Bank of America initiated coverage on shares of Phillips 66 in a research report on Thursday. They issued a “buy” rating and a $156.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Finally, Morgan Stanley lowered their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $149.50.

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.