Sumitomo Mitsui Trust Group Inc. Sells 44,989 Shares of Phillips 66 $PSX

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Phillips 66 (NYSE:PSX) by 5.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 862,141 shares of the oil and gas company’s stock after selling 44,989 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Phillips 66 were worth $157,065,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PSX. Brighton Jones LLC lifted its position in Phillips 66 by 238.5% during the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after purchasing an additional 7,214 shares during the period. Woodline Partners LP grew its position in Phillips 66 by 40.7% in the 1st quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock worth $4,308,000 after purchasing an additional 10,089 shares during the period. Sei Investments Co. raised its stake in Phillips 66 by 28.3% during the 2nd quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company’s stock valued at $18,788,000 after buying an additional 34,698 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Phillips 66 by 9.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company’s stock valued at $41,359,000 after buying an additional 28,988 shares during the last quarter. Finally, Glenview Trust co lifted its holdings in shares of Phillips 66 by 2.6% during the 2nd quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company’s stock valued at $1,068,000 after buying an additional 229 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Up 1.1%

PSX stock opened at $189.83 on Friday. Phillips 66 has a twelve month low of $118.07 and a twelve month high of $190.66. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The stock has a market cap of $76.11 billion, a P/E ratio of 18.70, a PEG ratio of 0.25 and a beta of 0.69. The business’s 50-day moving average price is $176.08 and its 200-day moving average price is $162.78.

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, topping 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 company had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same period in the prior year, the firm posted ($0.90) EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts forecast that Phillips 66 will post 19.27 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.7%. Phillips 66’s dividend payout ratio is 50.05%.

Insiders Place Their Bets

In related news, CFO Kevin J. Mitchell sold 600 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $171.56, for a total value of $102,936.00. Following the completion of the transaction, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $16,705,826.56. This represents a 0.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kevin Omar Meyers purchased 175 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was acquired at an average price of $173.12 per share, with a total value of $30,296.00. Following the purchase, the director directly owned 16,799 shares in the company, valued at $2,908,242.88. This represents a 1.05% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.40% of the company’s stock.

Phillips 66 News Roundup

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Phillips 66 declared a quarterly dividend of $1.27 per share, reinforcing its shareholder-return story and likely supporting demand for the stock. Phillips 66 Announces Quarterly Dividend
• Positive Sentiment: Rising crude prices and renewed geopolitical risk in the Middle East have lifted the broader energy complex, and Phillips 66 is benefiting from expectations that tighter fuel supplies could improve refining margins. Phillips 66 (PSX) Could Be 3% Undervalued After Oil Spiked On Middle East Tensions
• Positive Sentiment: Analysts have been highlighting Phillips 66 as a strong long-term momentum name, while Barclays also recently raised its price target to $183, keeping attention on the stock’s valuation and earnings power. Why Phillips 66 (PSX) is a Top Momentum Stock for the Long-Term
• Neutral Sentiment: Commentary on Phillips 66 being on the S&P 500 radar and other momentum-focused articles are adding visibility, but do not appear to reflect a material company-specific catalyst. What Puts Phillips 66 (NYSE:PSX) on the S&P 500 Radar?
• Negative Sentiment: Some headline risk remains from higher crude costs after U.S. strikes on Iran, which could pressure refining economics if feedstock prices rise faster than product prices. Phillips 66 (PSX) Stock Faces Higher Crude Costs After U.S. Strikes On Iran
• Negative Sentiment: Barclays’ updated target of $183 sits below the current share price, suggesting limited near-term upside from that firm’s perspective. Barclays price target update

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of research reports. Citigroup raised their price target on Phillips 66 from $159.00 to $183.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Tudor Pickering upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Zacks Research downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Monday. JPMorgan Chase & Co. raised their target price on Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. Finally, Barclays boosted their price target on Phillips 66 from $177.00 to $183.00 and gave the company an “equal weight” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $193.94.

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.