Sumitomo Mitsui Trust Holdings Inc. Raises Holdings in Phillips 66 (NYSE:PSX)

Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Phillips 66 (NYSE:PSX) by 4.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,179,053 shares of the oil and gas company’s stock after purchasing an additional 51,075 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.28% of Phillips 66 worth $192,587,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Madison Park Capital Advisors LLC grew its position in shares of Phillips 66 by 3.0% during the first quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock valued at $383,000 after purchasing an additional 68 shares in the last quarter. Warwick Investment Management Inc. grew its position in Phillips 66 by 3.1% in the fourth quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock worth $319,000 after acquiring an additional 73 shares in the last quarter. MV Capital Management Inc. grew its position in Phillips 66 by 9.6% in the first quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock worth $137,000 after acquiring an additional 73 shares in the last quarter. HCR Wealth Advisors grew its position in Phillips 66 by 2.9% in the fourth quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock worth $351,000 after acquiring an additional 74 shares in the last quarter. Finally, Nvwm LLC grew its position in Phillips 66 by 0.9% in the fourth quarter. Nvwm LLC now owns 8,286 shares of the oil and gas company’s stock worth $1,103,000 after acquiring an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $140.55 on Thursday. The company has a market capitalization of $59.59 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 2.13 and a beta of 1.34. Phillips 66 has a 52 week low of $94.51 and a 52 week high of $174.08. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average of $142.22 and a 200 day moving average of $144.98.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The business had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same period last year, the firm earned $4.21 EPS. On average, sell-side analysts predict that Phillips 66 will post 10.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the transaction, the executive vice president now owns 48,365 shares of the company’s stock, valued at $7,051,617. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Raymond James dropped their price target on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Piper Sandler dropped their price target on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Scotiabank boosted their target price on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Barclays dropped their target price on Phillips 66 from $147.00 to $142.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, The Goldman Sachs Group boosted their target price on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.07.

About Phillips 66

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.