Sumitomo Mitsui Trust Group Inc. Has $114.14 Million Stock Position in Phillips 66 (NYSE:PSX)

Sumitomo Mitsui Trust Group Inc. lowered its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 2.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 924,321 shares of the oil and gas company's stock after selling 20,077 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Phillips 66 worth $114,135,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PSX. Golden State Wealth Management LLC raised its position in Phillips 66 by 14.4% during the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the oil and gas company's stock worth $95,000 after purchasing an additional 97 shares during the last quarter. CWC Advisors LLC. raised its position in shares of Phillips 66 by 37.9% during the first quarter. CWC Advisors LLC. now owns 13,439 shares of the oil and gas company's stock worth $1,659,000 after acquiring an additional 3,696 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in shares of Phillips 66 by 14.3% in the first quarter. Sunbelt Securities Inc. now owns 5,154 shares of the oil and gas company's stock worth $636,000 after acquiring an additional 644 shares during the period. TCV Trust & Wealth Management Inc. acquired a new position in shares of Phillips 66 in the first quarter worth approximately $202,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in Phillips 66 by 8.8% in the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 183,186 shares of the oil and gas company's stock valued at $22,620,000 after acquiring an additional 14,880 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Brian Mandell sold 9,800 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total value of $1,225,000.00. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Pease bought 439 shares of Phillips 66 stock in a transaction dated Thursday, May 22nd. The shares were bought at an average cost of $113.85 per share, with a total value of $49,980.15. Following the completion of the transaction, the director now directly owns 4,091 shares in the company, valued at approximately $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.22% of the stock is currently owned by insiders.

Phillips 66 Stock Performance

NYSE PSX opened at $119.43 on Monday. The company has a market cap of $48.66 billion, a P/E ratio of 27.21, a PEG ratio of 1.86 and a beta of 1.02. The company has a fifty day simple moving average of $114.67 and a 200 day simple moving average of $116.82. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12.

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

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a dividend of $1.20 per share. The ex-dividend date was Monday, May 19th. This represents a $4.80 annualized dividend and a yield of 4.02%. This is an increase from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend payout ratio is 109.34%.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of recent analyst reports. Raymond James Financial dropped their price target on shares of Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Scotiabank dropped their target price on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. set a $115.00 price target on shares of Phillips 66 in a research report on Wednesday, June 18th. Evercore ISI assumed coverage on Phillips 66 in a research report on Wednesday, June 18th. They issued an "outperform" rating and a $130.00 price objective for the company. Finally, Tudor Pickering downgraded Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $133.93.

Phillips 66 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.

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