Rakuten Investment Management Inc. Invests $14.81 Million in Phillips 66 $PSX

Rakuten Investment Management Inc. acquired a new stake in Phillips 66 (NYSE:PSX) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 108,874 shares of the oil and gas company’s stock, valued at approximately $14,809,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Phillips 66 by 14.8% in the second quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock valued at $5,531,702,000 after purchasing an additional 5,978,841 shares in the last quarter. Norges Bank purchased a new stake in shares of Phillips 66 during the 2nd quarter worth approximately $523,755,000. Elliott Investment Management L.P. boosted its holdings in shares of Phillips 66 by 22.4% in the 2nd quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock valued at $2,296,644,000 after buying an additional 3,526,000 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Phillips 66 by 17.4% in the 2nd quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock valued at $1,226,815,000 after buying an additional 1,532,967 shares in the last quarter. Finally, Valeo Financial Advisors LLC grew its position in shares of Phillips 66 by 9,530.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company’s stock valued at $172,564,000 after buying an additional 1,431,450 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $141.64 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87. The firm has a market cap of $57.07 billion, a price-to-earnings ratio of 38.70, a price-to-earnings-growth ratio of 0.39 and a beta of 0.90. The firm’s fifty day moving average price is $136.09 and its 200 day moving average price is $132.25. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $145.68.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.14 by $0.38. The company had revenue of $33.69 billion during the quarter, compared to analysts’ expectations of $32.29 billion. Phillips 66 had a net margin of 1.12% and a return on equity of 5.53%. During the same quarter last year, the business earned $2.04 EPS. On average, sell-side analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Brian Mandell sold 25,500 shares of Phillips 66 stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $140.04, for a total value of $3,571,020.00. Following the sale, the executive vice president owned 56,838 shares of the company’s stock, valued at approximately $7,959,593.52. The trade was a 30.97% 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, EVP Vanessa Allen Sutherland sold 4,394 shares of the stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $145.00, for a total value of $637,130.00. Following the transaction, the executive vice president directly owned 30,193 shares of the company’s stock, valued at approximately $4,377,985. This trade represents a 12.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 86,094 shares of company stock worth $11,955,366 over the last 90 days. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

PSX has been the subject of a number of research reports. Piper Sandler set a $153.00 price target on shares of Phillips 66 in a research report on Monday, January 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, October 8th. Zacks Research cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Raymond James Financial cut their price target on Phillips 66 from $169.00 to $160.00 and set an “outperform” rating on the stock in a research report on Monday, December 22nd. Finally, Wells Fargo & Company boosted their price objective on Phillips 66 from $154.00 to $162.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $150.41.

Phillips 66 Profile

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.