Resona Asset Management Co. Ltd. Sells 6,969 Shares of Phillips 66 $PSX

Resona Asset Management Co. Ltd. reduced its stake in shares of Phillips 66 (NYSE:PSX) by 5.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 131,146 shares of the oil and gas company’s stock after selling 6,969 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Phillips 66 were worth $17,872,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Evolution Wealth Management Inc. bought a new stake in shares of Phillips 66 during the second quarter worth $25,000. Wolff Wiese Magana LLC boosted its stake in Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 82 shares during the period. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Phillips 66 during the 2nd quarter worth about $32,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Phillips 66 in the 2nd quarter valued at about $38,000. Finally, Country Trust Bank lifted its holdings in shares of Phillips 66 by 191.8% in the third quarter. Country Trust Bank now owns 321 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 211 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,394 shares of the company’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $145.00, for a total value of $637,130.00. Following the sale, the executive vice president directly owned 30,193 shares of the company’s stock, valued at approximately $4,377,985. This represents a 12.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the completion of the sale, the chief financial officer owned 89,771 shares of the company’s stock, valued at $12,388,398. This trade represents a 25.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 86,094 shares of company stock worth $11,955,366 in the last ninety days. Insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 0.3%

NYSE PSX opened at $141.51 on Monday. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $146.88. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. The stock has a 50 day moving average of $136.13 and a 200-day moving average of $132.45. The company has a market cap of $57.02 billion, a PE ratio of 38.66, a PEG ratio of 0.40 and a beta of 0.90.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. The business had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a net margin of 1.12% and a return on equity of 5.53%. During the same period in the previous year, the company earned $2.04 earnings per share. On average, equities research analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PSX. Jefferies Financial Group increased their price objective on Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Zacks Research downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. UBS Group reiterated a “buy” rating on shares of Phillips 66 in a report on Tuesday, January 6th. Citigroup boosted their price objective on shares of Phillips 66 from $137.00 to $146.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Finally, Mizuho raised their target price on shares of Phillips 66 from $150.00 to $152.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 has an average rating of “Hold” and a consensus price target of $153.53.

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.