7,000 Shares in Phillips 66 $PSX Purchased by SBI Okasan Asset Management Co.Ltd.

SBI Okasan Asset Management Co.Ltd. bought a new position in Phillips 66 (NYSE:PSX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,000 shares of the oil and gas company’s stock, valued at approximately $900,000.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Phillips 66 by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock worth $6,701,052,000 after purchasing an additional 205,480 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Phillips 66 by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock worth $1,338,596,000 after purchasing an additional 45,340 shares during the last quarter. M&T Bank Corp grew its stake in shares of Phillips 66 by 462.9% in the fourth quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock worth $352,007,000 after purchasing an additional 2,243,268 shares during the last quarter. Amundi grew its stake in shares of Phillips 66 by 2.8% in the third quarter. Amundi now owns 2,400,180 shares of the oil and gas company’s stock worth $319,123,000 after purchasing an additional 65,568 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Phillips 66 by 1.5% in the third quarter. Legal & General Group Plc now owns 2,276,036 shares of the oil and gas company’s stock worth $309,586,000 after purchasing an additional 33,397 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 Kevin Omar Meyers bought 175 shares of the stock in a transaction dated Wednesday, May 6th. The stock was purchased at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the acquisition, the director owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lisa Ann Davis sold 3,800 shares of Phillips 66 stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $174.37, for a total transaction of $662,606.00. Following the transaction, the director owned 8,701 shares of the company’s stock, valued at $1,517,193.37. The trade was a 30.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 114,029 shares of company stock valued at $19,641,455 over the last ninety days. Company insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. JPMorgan Chase & Co. raised their target price on Phillips 66 from $188.00 to $202.00 in a research note on Thursday, April 30th. Zacks Research upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Morgan Stanley restated an “overweight” rating and issued a $180.00 price objective on shares of Phillips 66 in a report on Thursday, April 30th. BMO Capital Markets raised their price objective on shares of Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Finally, Wells Fargo & Company raised their price objective on shares of Phillips 66 from $163.00 to $201.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $191.28.

Phillips 66 Price Performance

PSX stock opened at $175.79 on Friday. The firm has a 50 day moving average price of $172.38 and a 200-day moving average price of $154.66. Phillips 66 has a 52-week low of $111.19 and a 52-week high of $190.61. The firm has a market capitalization of $70.48 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.26 and a beta of 0.70. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same period last year, the business earned ($0.90) earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. Equities research analysts forecast that Phillips 66 will post 17.64 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, May 18th. Phillips 66’s dividend payout ratio (DPR) is presently 50.05%.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.