Phillips 66 (NYSE:PSX) Holdings Reduced by Meiji Yasuda Asset Management Co Ltd.

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Meiji Yasuda Asset Management Co Ltd. trimmed its position in shares of Phillips 66 (NYSE:PSX) by 2.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,634 shares of the oil and gas company’s stock after selling 200 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Phillips 66 were worth $631,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Opus Investment Management Inc. bought a new stake in shares of Phillips 66 during the first quarter worth $446,000. Boston Partners raised its holdings in shares of Phillips 66 by 6.8% in the first quarter. Boston Partners now owns 766,308 shares of the oil and gas company’s stock valued at $72,929,000 after acquiring an additional 48,968 shares in the last quarter. Executive Wealth Management LLC bought a new stake in shares of Phillips 66 in the fourth quarter valued at about $161,000. Millennium Management LLC raised its holdings in shares of Phillips 66 by 61.1% in the fourth quarter. Millennium Management LLC now owns 2,141,445 shares of the oil and gas company’s stock valued at $184,485,000 after acquiring an additional 811,879 shares in the last quarter. Finally, Prudential PLC raised its holdings in shares of Phillips 66 by 9.3% in the fourth quarter. Prudential PLC now owns 652,013 shares of the oil and gas company’s stock valued at $56,170,000 after acquiring an additional 55,306 shares in the last quarter. 70.12% of the stock is owned by institutional investors.

In other news, Director John E. Lowe bought 2,000 shares of Phillips 66 stock in a transaction on Tuesday, May 28th. The stock was acquired at an average cost of $82.91 per share, for a total transaction of $165,820.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.13% of the company’s stock.

Several analysts recently weighed in on PSX shares. Bank of America upgraded Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 price objective for the company in a report on Monday, April 29th. They noted that the move was a valuation call. Argus decreased their price objective on Phillips 66 to $116.00 and set a “buy” rating for the company in a report on Thursday, February 14th. Morgan Stanley decreased their price objective on Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating for the company in a report on Friday, May 17th. Jefferies Financial Group downgraded Phillips 66 from a “buy” rating to a “hold” rating and lifted their price objective for the company from $105.00 to $107.00 in a report on Monday, April 15th. Finally, Citigroup lifted their price objective on Phillips 66 from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $118.73.

Shares of Phillips 66 stock opened at $85.51 on Friday. The stock has a market capitalization of $37.76 billion, a price-to-earnings ratio of 7.30, a PEG ratio of 1.36 and a beta of 0.99. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Phillips 66 has a one year low of $78.44 and a one year high of $123.97.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, April 30th. The oil and gas company reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.06. The business had revenue of $23.66 billion during the quarter, compared to the consensus estimate of $24.66 billion. Phillips 66 had a net margin of 4.63% and a return on equity of 19.96%. During the same period in the previous year, the company posted $1.04 earnings per share. On average, sell-side analysts anticipate that Phillips 66 will post 7.22 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were issued a $0.90 dividend. The ex-dividend date was Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a yield of 4.21%. Phillips 66’s payout ratio is currently 30.74%.

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Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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