Nissay Asset Management Corp Japan ADV Has $5.78 Million Stock Position in Phillips 66 (NYSE:PSX)

Nissay Asset Management Corp Japan ADV lowered its stake in Phillips 66 (NYSE:PSX) by 2.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,320 shares of the oil and gas company’s stock after selling 1,283 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Phillips 66 were worth $5,778,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bogart Wealth LLC increased its position in shares of Phillips 66 by 120.0% in the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 120 shares in the last quarter. J.Safra Asset Management Corp purchased a new position in Phillips 66 during the 4th quarter worth approximately $25,000. Stephens Consulting LLC raised its stake in Phillips 66 by 83.5% during the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 111 shares during the period. Graney & King LLC acquired a new stake in Phillips 66 during the 4th quarter valued at $28,000. Finally, Human Investing LLC purchased a new stake in shares of Phillips 66 in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.1%

Shares of NYSE:PSX opened at $124.88 on Friday. The stock has a market capitalization of $50.88 billion, a PE ratio of 25.28, a P/E/G ratio of 4.84 and a beta of 1.01. The firm has a fifty day moving average price of $111.57 and a 200 day moving average price of $119.23. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $150.12. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The company had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. During the same period in the previous year, the company earned $1.90 EPS. Analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a dividend of $1.20 per share. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Monday, May 19th. Phillips 66’s dividend payout ratio is currently 109.34%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PSX. Raymond James dropped their price target on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. lowered their target price on Phillips 66 from $138.00 to $131.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 29th. The Goldman Sachs Group cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price target for the company. in a report on Thursday, March 27th. UBS Group lowered their price objective on shares of Phillips 66 from $144.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Finally, Morgan Stanley cut their target price on shares of Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $137.86.

Phillips 66 Company 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.