Asset Management One Co. Ltd. Buys 10,351 Shares of Phillips 66 (NYSE:PSX)

Asset Management One Co. Ltd. grew its stake in shares of Phillips 66 (NYSE:PSX) by 6.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 169,238 shares of the oil and gas company’s stock after buying an additional 10,351 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Phillips 66 were worth $20,898,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Forum Financial Management LP grew its stake in shares of Phillips 66 by 1.0% during the fourth quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company’s stock worth $853,000 after buying an additional 77 shares during the last quarter. NewEdge Wealth LLC grew its stake in shares of Phillips 66 by 0.5% during the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock worth $1,732,000 after buying an additional 81 shares during the last quarter. Nwam LLC grew its stake in shares of Phillips 66 by 2.2% during the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock worth $442,000 after buying an additional 85 shares during the last quarter. PFG Private Wealth Management LLC grew its stake in shares of Phillips 66 by 7.7% during the fourth quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company’s stock worth $140,000 after buying an additional 88 shares during the last quarter. Finally, Tortoise Investment Management LLC grew its stake in shares of Phillips 66 by 16.1% during the fourth quarter. Tortoise Investment Management LLC now owns 633 shares of the oil and gas company’s stock worth $72,000 after buying an additional 88 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wall Street Zen raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a research note on Monday, April 28th. Mizuho boosted their price objective on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 13th. Evercore ISI assumed coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued an “outperform” rating and a $130.00 price objective on the stock. JPMorgan Chase & Co. set a $115.00 price objective on shares of Phillips 66 in a research note on Wednesday, June 18th. Finally, Barclays boosted their price objective on shares of Phillips 66 from $106.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $133.93.

Phillips 66 Price Performance

PSX stock opened at $119.61 on Thursday. The firm has a market cap of $48.73 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 1.86 and a beta of 1.02. The company has a quick ratio of 0.88, a current ratio of 1.23 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. The company’s fifty day simple moving average is $113.84 and its 200 day simple moving average is $117.04.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.97). The firm had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. During the same quarter in the previous year, the firm earned $1.90 EPS. On average, analysts expect that Phillips 66 will post 6.8 earnings per share for the current 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 issued a $1.20 dividend. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Monday, May 19th. This represents a $4.80 annualized dividend and a yield of 4.01%. Phillips 66’s payout ratio is presently 109.34%.

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.