Resona Asset Management Co. Ltd. Sells 5,640 Shares of Phillips 66 $PSX

Resona Asset Management Co. Ltd. trimmed its position in Phillips 66 (NYSE:PSX) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 125,506 shares of the oil and gas company’s stock after selling 5,640 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Phillips 66 were worth $16,185,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Board of the Pension Protection Fund bought a new stake in shares of Phillips 66 in the 4th quarter valued at about $26,000. Accordant Advisory Group Inc raised its holdings in shares of Phillips 66 by 900.0% in the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 180 shares during the period. Eagle Bay Advisors LLC bought a new stake in shares of Phillips 66 in the 4th quarter valued at about $27,000. Stephens Consulting LLC raised its holdings in shares of Phillips 66 by 67.7% in the 4th quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 90 shares during the period. Finally, Dorato Capital Management bought a new stake in shares of Phillips 66 in the 4th quarter valued at about $35,000. 76.93% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 600 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $171.56, for a total transaction of $102,936.00. Following the completion of the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $16,705,826.56. This represents a 0.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lisa Ann Davis sold 3,800 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $174.37, for a total transaction of $662,606.00. Following the sale, the director directly owned 8,701 shares of the company’s stock, valued at approximately $1,517,193.37. This trade represents a 30.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 114,029 shares of company stock worth $19,641,455. Insiders own 0.40% of the company’s stock.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $179.54 on Thursday. The company’s 50 day moving average price is $171.72 and its two-hundred day moving average price is $152.86. Phillips 66 has a 12-month low of $109.75 and a 12-month high of $190.61. The firm has a market cap of $71.98 billion, a PE ratio of 17.69, a PEG ratio of 0.27 and a beta of 0.70. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same quarter in the prior year, the business posted ($0.90) EPS. The business’s revenue was up 6.9% compared to the same quarter last year. Equities research analysts predict that Phillips 66 will post 17.64 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, May 18th. Phillips 66’s dividend payout ratio is 50.05%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PSX. Jefferies Financial Group lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. The Goldman Sachs Group upped their price target on shares of Phillips 66 from $192.00 to $207.00 and gave the company a “neutral” rating in a research note on Tuesday. TD Cowen upped their price target on shares of Phillips 66 from $155.00 to $213.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Piper Sandler upped their price target on shares of Phillips 66 from $168.00 to $177.00 and gave the company a “neutral” rating in a research note on Wednesday, April 8th. Finally, Wall Street Zen lowered shares of Phillips 66 from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $187.11.

Phillips 66 Company 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.