Sompo Japan Nipponkoa Asset Management CO. LTD. purchased a new position in Phillips 66 (NYSE:PSX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 95,200 shares of the oil and gas company’s stock, valued at approximately $8,721,000.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Phillips 66 by 0.4% during the second quarter. Vanguard Group Inc. now owns 31,826,155 shares of the oil and gas company’s stock worth $2,631,704,000 after purchasing an additional 130,653 shares during the period. BlackRock Inc. raised its stake in Phillips 66 by 0.7% during the second quarter. BlackRock Inc. now owns 28,025,035 shares of the oil and gas company’s stock worth $2,317,389,000 after purchasing an additional 203,138 shares during the period. State Street Corp raised its stake in Phillips 66 by 4.0% during the first quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock worth $1,908,079,000 after purchasing an additional 921,895 shares during the period. Wells Fargo & Company MN raised its stake in Phillips 66 by 0.9% during the second quarter. Wells Fargo & Company MN now owns 8,422,039 shares of the oil and gas company’s stock worth $696,418,000 after purchasing an additional 71,098 shares during the period. Finally, FMR LLC increased its position in shares of Phillips 66 by 37.1% during the second quarter. FMR LLC now owns 7,520,743 shares of the oil and gas company’s stock valued at $621,890,000 after acquiring an additional 2,036,258 shares during the last quarter. 70.24% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Phillips 66 (NYSE:PSX) traded up $0.72 during mid-day trading on Monday, hitting $98.29. 891,555 shares of the company were exchanged, compared to its average volume of 2,208,290. The company has a quick ratio of 0.86, a current ratio of 1.31 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $49,908.11, a PE ratio of 28.12, a P/E/G ratio of 2.50 and a beta of 1.24. Phillips 66 has a 52-week low of $75.14 and a 52-week high of $98.16.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The firm had revenue of $26.21 billion during the quarter, compared to analysts’ expectations of $29.94 billion. Phillips 66 had a net margin of 2.11% and a return on equity of 7.58%. During the same quarter in the previous year, the business posted $1.05 earnings per share. equities analysts forecast that Phillips 66 will post 4.59 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Tuesday, October 17th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend was Thursday, November 16th. Phillips 66’s dividend payout ratio (DPR) is currently 70.18%.

Phillips 66 declared that its Board of Directors has authorized a share repurchase plan on Monday, October 9th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the oil and gas company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

PSX has been the subject of a number of recent analyst reports. BidaskClub cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Jefferies Group reiterated a “hold” rating and set a $78.00 price target on shares of Phillips 66 in a research report on Tuesday, September 5th. Scotiabank reiterated a “hold” rating on shares of Phillips 66 in a research report on Friday, September 8th. Piper Jaffray Companies reiterated a “buy” rating and set a $98.00 price target on shares of Phillips 66 in a research report on Tuesday, September 26th. Finally, Howard Weil upgraded shares of Phillips 66 from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $86.00 to $98.00 in a research report on Thursday, September 28th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. Phillips 66 presently has a consensus rating of “Hold” and an average target price of $93.25.

In related news, VP Chukwuemeka A. Oyolu sold 1,151 shares of Phillips 66 stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $89.08, for a total value of $102,531.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.50% of the company’s stock.

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About Phillips 66

Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.

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

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