Sompo Asset Management Co. Ltd. Acquires 130 Shares of Phillips 66 (NYSE:PSX)

Sompo Asset Management Co. Ltd. boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 3.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,190 shares of the oil and gas company’s stock after acquiring an additional 130 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Phillips 66 were worth $551,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PSX. WESPAC Advisors LLC lifted its holdings in Phillips 66 by 6.0% during the 3rd quarter. WESPAC Advisors LLC now owns 3,950 shares of the oil and gas company’s stock worth $519,000 after buying an additional 222 shares during the period. Algert Global LLC bought a new position in shares of Phillips 66 during the third quarter worth about $3,547,000. Kingsview Wealth Management LLC lifted its stake in shares of Phillips 66 by 0.5% in the third quarter. Kingsview Wealth Management LLC now owns 40,514 shares of the oil and gas company’s stock worth $5,326,000 after acquiring an additional 215 shares during the period. Cerity Partners LLC lifted its stake in shares of Phillips 66 by 8.7% in the third quarter. Cerity Partners LLC now owns 65,830 shares of the oil and gas company’s stock worth $8,653,000 after acquiring an additional 5,255 shares during the period. Finally, Great Valley Advisor Group Inc. boosted its holdings in Phillips 66 by 1.8% in the third quarter. Great Valley Advisor Group Inc. now owns 15,499 shares of the oil and gas company’s stock valued at $2,037,000 after acquiring an additional 267 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a report on Thursday, October 17th. Scotiabank dropped their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Raymond James upped their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Mizuho lowered their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. cut their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Stock Performance

NYSE PSX opened at $133.27 on Monday. The company has a market cap of $55.04 billion, a P/E ratio of 17.11, a PEG ratio of 4.40 and a beta of 1.33. The company has a fifty day simple moving average of $130.28 and a 200 day simple moving average of $135.27. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12-month low of $117.32 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same period in the previous year, the firm posted $4.63 earnings per share. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. Sell-side analysts predict that Phillips 66 will post 7.57 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

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.