Sompo Japan Nipponkoa Asset Management CO. LTD. lifted its position in Phillips 66 (NYSE:PSX) by 15.1% during the first quarter, Holdings Channel reports. The institutional investor owned 43,345 shares of the oil and gas company’s stock after buying an additional 5,700 shares during the quarter. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Phillips 66 were worth $2,325,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of PSX. Norges Bank bought a new stake in shares of Phillips 66 in the 4th quarter worth $506,457,000. Renaissance Technologies LLC raised its stake in shares of Phillips 66 by 824.9% in the 4th quarter. Renaissance Technologies LLC now owns 1,922,902 shares of the oil and gas company’s stock worth $214,231,000 after buying an additional 1,715,002 shares in the last quarter. BlackRock Inc. raised its stake in shares of Phillips 66 by 3.9% in the 1st quarter. BlackRock Inc. now owns 31,599,517 shares of the oil and gas company’s stock worth $1,695,316,000 after buying an additional 1,188,569 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Phillips 66 by 67.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,255,189 shares of the oil and gas company’s stock worth $248,970,000 after buying an additional 905,222 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Phillips 66 by 285.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 880,865 shares of the oil and gas company’s stock worth $97,345,000 after buying an additional 652,555 shares in the last quarter. 69.03% of the stock is currently owned by institutional investors.
In other news, Director Gary Kramer Adams purchased 1,250 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was purchased at an average price of $76.40 per share, with a total value of $95,500.00. Following the acquisition, the director now directly owns 10,213 shares in the company, valued at approximately $780,273.20. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John E. Lowe purchased 1,000 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was purchased at an average cost of $74.93 per share, with a total value of $74,930.00. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 4,250 shares of company stock valued at $323,850. Insiders own 0.63% of the company’s stock.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.63 by $0.39. The firm had revenue of $21.24 billion during the quarter, compared to analysts’ expectations of $22.04 billion. Phillips 66 had a return on equity of 14.90% and a net margin of 0.35%. During the same quarter in the prior year, the firm posted $0.40 EPS. As a group, analysts forecast that Phillips 66 will post 2.32 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be issued a $0.90 dividend. The ex-dividend date is Friday, May 15th. This represents a $3.60 annualized dividend and a yield of 4.71%. Phillips 66’s dividend payout ratio (DPR) is 44.72%.
A number of equities research analysts have recently issued reports on PSX shares. Zacks Investment Research lowered Phillips 66 from a “hold” rating to a “sell” rating and set a $58.00 target price on the stock. in a research report on Friday, March 27th. Barclays reiterated a “buy” rating and set a $94.00 price target on shares of Phillips 66 in a research note on Wednesday, April 8th. Cowen decreased their price target on Phillips 66 from $127.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Mizuho upgraded Phillips 66 from a “neutral” rating to a “buy” rating and set a $95.00 price target for the company in a research note on Monday, May 4th. Finally, Wolfe Research downgraded Phillips 66 from an “outperform” rating to a “peer perform” rating and set a $98.00 price target for the company. in a research note on Wednesday, May 13th. Two equities research analysts have rated the stock with a sell rating and seventeen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $89.00.
Phillips 66 Profile
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.
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