Mitsubishi UFJ Asset Management Co. Ltd. Purchases 28,010 Shares of Phillips 66 $PSX

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 846,035 shares of the oil and gas company's stock after purchasing an additional 28,010 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.21% of Phillips 66 worth $110,467,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Board of the Pension Protection Fund bought a new stake in shares of Phillips 66 during the 4th quarter worth $26,000. Accordant Advisory Group Inc grew its position in Phillips 66 by 900.0% in the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company's stock valued at $26,000 after acquiring an additional 180 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in Phillips 66 in the fourth quarter valued at about $27,000. Stephens Consulting LLC raised its stake in Phillips 66 by 67.7% during the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company's stock worth $29,000 after acquiring an additional 90 shares in the last quarter. Finally, Dorato Capital Management acquired a new position in Phillips 66 during the fourth quarter worth about $35,000. 76.93% of the stock is currently owned by institutional investors.

Insider Activity at Phillips 66

In related news, EVP Don Baldridge sold 7,500 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total value of $1,200,000.00. Following the completion of the sale, the executive vice president directly owned 38,488 shares in the company, valued at $6,158,080. This represents a 16.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kevin Omar Meyers bought 175 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were bought at an average cost of $173.20 per share, with a total value of $30,310.00. Following the completion of the transaction, the director owned 16,624 shares in the company, valued at $2,879,276.80. The trade was a 1.06% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 91,529 shares of company stock valued at $15,740,519 in the last quarter. Insiders own 0.40% of the company's stock.

Phillips 66 Stock Performance

Phillips 66 stock opened at $171.72 on Thursday. The business has a 50 day moving average of $168.52 and a 200-day moving average of $149.92. Phillips 66 has a 1 year low of $104.83 and a 1 year high of $190.61. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The company has a market capitalization of $68.85 billion, a P/E ratio of 16.92, a P/E/G ratio of 0.28 and a beta of 0.70.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 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 business had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. During the same period last year, the company earned ($0.90) EPS. The firm's revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts predict that Phillips 66 will post 16.85 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be paid a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $5.08 annualized dividend and a dividend yield of 3.0%. Phillips 66's dividend payout ratio (DPR) is presently 50.05%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PSX shares. Jefferies Financial Group downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 13th. Wall Street Zen upgraded shares of Phillips 66 from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 2nd. Scotiabank raised their target price on shares of Phillips 66 from $140.00 to $151.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 22nd. Tudor Pickering raised shares of Phillips 66 from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Finally, Raymond James Financial upped their price target on shares of Phillips 66 from $205.00 to $215.00 in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $184.50.

About Phillips 66

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.

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