Sumitomo Mitsui DS Asset Management Company Ltd Purchases 540 Shares of Phillips 66 (NYSE:PSX)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Phillips 66 (NYSE:PSX) by 1.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,382 shares of the oil and gas company’s stock after buying an additional 540 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Phillips 66 were worth $5,834,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on PSX. Raymond James upped their price target 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. JPMorgan Chase & Co. dropped their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. TD Cowen reduced their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Scotiabank dropped their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Bank of America began coverage on Phillips 66 in a research note on Thursday. They issued a “buy” rating and a $156.00 target price on the stock. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus price target of $149.50.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $132.60 on Friday. The firm has a market capitalization of $56.22 billion, a P/E ratio of 10.20, a PEG ratio of 5.75 and a beta of 1.33. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The company has a 50 day moving average price of $133.18 and a 200 day moving average price of $140.43.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping the consensus estimate of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. During the same period in the previous year, the firm posted $3.87 earnings per share. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. Sell-side analysts expect that Phillips 66 will post 7.85 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is presently 35.38%.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.22% of the company’s stock.

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.