Asset Management One Co. Ltd. Raises Position in Phillips 66 (NYSE:PSX)

Asset Management One Co. Ltd. lifted its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 6.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 169,238 shares of the oil and gas company's stock after acquiring an additional 10,351 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Phillips 66 were worth $20,898,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in Phillips 66 by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company's stock worth $968,844,000 after purchasing an additional 82,758 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Phillips 66 by 283.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock worth $686,618,000 after buying an additional 4,455,220 shares during the period. Northern Trust Corp increased its holdings in shares of Phillips 66 by 10.6% during the 4th quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company's stock worth $522,834,000 after acquiring an additional 440,107 shares during the last quarter. Norges Bank bought a new stake in Phillips 66 during the fourth quarter worth about $497,648,000. Finally, Invesco Ltd. grew its holdings in Phillips 66 by 9.2% during the 4th quarter. Invesco Ltd. now owns 4,112,618 shares of the oil and gas company's stock worth $468,551,000 after acquiring an additional 347,905 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on PSX shares. UBS Group lowered their price target on Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Compass Point initiated coverage on Phillips 66 in a research note on Wednesday, June 18th. They issued a "buy" rating on the stock. Wells Fargo & Company reduced their price objective on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. Wall Street Zen upgraded Phillips 66 from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Finally, Tudor Pickering lowered Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $133.93.

Insiders Place Their Bets

In related news, Director Robert W. Pease purchased 439 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the acquisition, the director now directly owns 4,091 shares in the company, valued at approximately $465,760.35. The trade was a 12.02% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian Mandell sold 9,800 shares of the firm's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total value of $1,225,000.00. Following the completion of the transaction, the executive vice president now directly owns 56,838 shares in the company, valued at $7,104,750. The trade was a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.22% of the company's stock.

Phillips 66 Stock Performance

Shares of PSX stock traded up $0.47 during trading hours on Thursday, reaching $120.10. 3,061,699 shares of the company traded hands, compared to its average volume of 3,093,787. The company has a market cap of $48.93 billion, a P/E ratio of 27.36, a P/E/G ratio of 1.86 and a beta of 1.02. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12. The firm has a 50-day moving average price of $113.84 and a 200 day moving average price of $117.04. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.23 and a quick ratio of 0.88.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. The business had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. During the same period last year, the company earned $1.90 EPS. As a group, sell-side analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a $1.20 dividend. This is a boost from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 4.00%. The ex-dividend date was Monday, May 19th. Phillips 66's dividend payout ratio (DPR) is 109.34%.

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.