Dai ichi Life Insurance Company Ltd Buys 24,000 Shares of Phillips 66 (NYSE:PSX)

Dai ichi Life Insurance Company Ltd raised its holdings in shares of Phillips 66 (NYSE:PSX) by 201.2% during the 4th quarter, HoldingsChannel reports. The fund owned 35,930 shares of the oil and gas company’s stock after acquiring an additional 24,000 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Phillips 66 were worth $4,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in Phillips 66 by 14.2% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,428 shares of the oil and gas company’s stock worth $412,000 after purchasing an additional 426 shares in the last quarter. SteelPeak Wealth LLC grew its holdings in Phillips 66 by 37.4% during the 3rd quarter. SteelPeak Wealth LLC now owns 2,909 shares of the oil and gas company’s stock valued at $349,000 after purchasing an additional 792 shares during the last quarter. US Bancorp DE grew its holdings in Phillips 66 by 0.6% during the 3rd quarter. US Bancorp DE now owns 262,383 shares of the oil and gas company’s stock valued at $31,526,000 after purchasing an additional 1,442 shares during the last quarter. MGO One Seven LLC grew its stake in Phillips 66 by 4.1% in the 3rd quarter. MGO One Seven LLC now owns 7,587 shares of the oil and gas company’s stock worth $912,000 after acquiring an additional 298 shares in the last quarter. Finally, Corient Private Wealth LLC grew its stake in Phillips 66 by 2.9% in the 3rd quarter. Corient Private Wealth LLC now owns 774,350 shares of the oil and gas company’s stock worth $93,050,000 after acquiring an additional 21,725 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.4 %

Shares of PSX traded down $0.55 during trading on Thursday, reaching $142.35. 120,082 shares of the company traded hands, compared to its average volume of 2,809,535. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08. The stock has a market cap of $60.35 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 1.96 and a beta of 1.41. The stock has a 50-day simple moving average of $155.14 and a 200-day simple moving average of $141.08. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The business had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same quarter last year, the firm posted $4.21 EPS. On average, analysts anticipate that Phillips 66 will post 12.26 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a $1.15 dividend. The ex-dividend date is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.23%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is 35.38%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. JPMorgan Chase & Co. increased their price objective on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. The Goldman Sachs Group raised their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Raymond James increased their price objective on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Finally, Mizuho decreased their price objective 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. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $156.21.

Insider Buying and Selling

In other news, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 6,583 shares in the company, valued at approximately $1,036,164.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the sale, the executive vice president now owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Joseph Scott Pruitt sold 5,922 shares of the company’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 completion of the sale, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The disclosure for this sale can be found here. Insiders sold 50,864 shares of company stock worth $7,567,178 over the last 90 days. 0.22% of the stock is owned by insiders.

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.