Asset Management One Co. Ltd. Reduces Position in Phillips 66 $PSX

Asset Management One Co. Ltd. cut its position in Phillips 66 (NYSE:PSX) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 167,999 shares of the oil and gas company’s stock after selling 1,239 shares during the period. Asset Management One Co. Ltd.’s holdings in Phillips 66 were worth $20,042,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of PSX. Brighton Jones LLC increased its position in shares of Phillips 66 by 238.5% in the 4th 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 last quarter. GAMMA Investing LLC increased its position in shares of Phillips 66 by 15.2% in the 1st quarter. GAMMA Investing LLC now owns 9,634 shares of the oil and gas company’s stock valued at $1,190,000 after purchasing an additional 1,268 shares during the last quarter. Spire Wealth Management increased its position in shares of Phillips 66 by 17.6% in the 1st quarter. Spire Wealth Management now owns 3,367 shares of the oil and gas company’s stock valued at $416,000 after purchasing an additional 505 shares during the last quarter. Golden State Wealth Management LLC increased its position in shares of Phillips 66 by 194.7% in the 1st quarter. Golden State Wealth Management LLC now owns 1,989 shares of the oil and gas company’s stock valued at $246,000 after purchasing an additional 1,314 shares during the last quarter. Finally, Pure Financial Advisors LLC grew its position in shares of Phillips 66 by 9.5% in the 1st quarter. Pure Financial Advisors LLC now owns 1,995 shares of the oil and gas company’s stock valued at $246,000 after buying an additional 173 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the sale, the executive vice president owned 34,587 shares in the company, valued at approximately $4,842,180. This trade represents a 11.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael A. Heim bought 1,000 shares of Phillips 66 stock in a transaction dated Wednesday, July 30th. The stock was purchased at an average price of $125.97 per share, with a total value of $125,970.00. Following the purchase, the director directly owned 12,043 shares in the company, valued at approximately $1,517,056.71. This trade represents a 9.06% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 9,850 shares of company stock worth $1,188,910 over the last quarter. Insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on PSX. UBS Group increased their target price on shares of Phillips 66 from $143.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Argus raised shares of Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. TD Cowen increased their target price on shares of Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Wells Fargo & Company began coverage on shares of Phillips 66 in a research report on Friday, October 17th. They issued an “overweight” rating and a $154.00 target price on the stock. Finally, Mizuho increased their target price on shares of Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average price target of $141.50.

Phillips 66 Stock Down 0.5%

Shares of NYSE:PSX opened at $135.07 on Friday. The stock has a market cap of $54.58 billion, a P/E ratio of 32.47, a P/E/G ratio of 1.77 and a beta of 1.11. The firm has a fifty day moving average price of $131.51 and a 200 day moving average price of $122.00. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $142.35.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.59. The firm had revenue of $33.77 billion during the quarter, compared to analysts’ expectations of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same quarter in the prior year, the business earned $2.31 EPS. Sell-side analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be paid a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 3.6%. Phillips 66’s dividend payout ratio is currently 115.38%.

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.