133,656 Shares in Phillips 66 (NYSE:PSX) Purchased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. acquired a new stake in Phillips 66 (NYSE:PSX) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 133,656 shares of the oil and gas company’s stock, valued at approximately $15,203,000.

Several other hedge funds have also recently modified their holdings of PSX. Norges Bank purchased a new stake in shares of Phillips 66 during the 4th quarter valued at $497,648,000. Raymond James Financial Inc. bought a new position in Phillips 66 during the fourth quarter valued at about $168,790,000. Amundi increased its holdings in Phillips 66 by 25.7% during the fourth quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock worth $428,081,000 after buying an additional 753,653 shares during the last quarter. National Bank of Canada FI raised its position in Phillips 66 by 166.7% in the fourth quarter. National Bank of Canada FI now owns 1,134,582 shares of the oil and gas company’s stock worth $129,266,000 after acquiring an additional 709,219 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Phillips 66 by 7.3% in the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock valued at $1,064,601,000 after acquiring an additional 639,323 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a report on Friday, January 3rd. Barclays boosted their target price on Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Finally, Wells Fargo & Company increased their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $146.43.

Phillips 66 Stock Performance

NYSE PSX opened at $98.65 on Friday. The company’s 50 day simple moving average is $124.24 and its two-hundred day simple moving average is $125.13. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 1 year low of $95.67 and a 1 year high of $171.41. The stock has a market capitalization of $40.22 billion, a PE ratio of 19.97, a P/E/G ratio of 4.84 and a beta of 1.17.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the previous year, the company posted $3.09 earnings per share. Analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 4.66%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s payout ratio is 93.12%.

Phillips 66 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.