Phillips 66 (NYSE:PSX) Shares Sold by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 6.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,060 shares of the oil and gas company’s stock after selling 260 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Phillips 66 were worth $573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new stake in Phillips 66 during the first quarter valued at $25,000. Keener Financial Planning LLC acquired a new position in Phillips 66 in the 1st quarter worth about $26,000. Strategic Financial Concepts LLC acquired a new position in Phillips 66 in the 2nd quarter worth about $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Phillips 66 in the fourth quarter valued at approximately $27,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Phillips 66 in the first quarter valued at approximately $28,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PSX. Mizuho decreased their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. JPMorgan Chase & Co. decreased their price objective on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Barclays boosted their target price on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Scotiabank decreased their price target on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Finally, Wells Fargo & Company boosted their price objective on Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.21.

Phillips 66 Stock Performance

NYSE PSX opened at $129.97 on Friday. The stock’s fifty day moving average is $135.20 and its two-hundred day moving average is $143.67. The firm has a market capitalization of $55.10 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 4.67 and a beta of 1.33. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.87 earnings per share. On average, research analysts anticipate that Phillips 66 will post 9.1 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

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.