Phillips 66 (NYSE:PSX) Shares Purchased by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Phillips 66 (NYSE:PSX) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,126 shares of the oil and gas company’s stock after buying an additional 418 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Phillips 66 were worth $2,777,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in PSX. Vanguard Group Inc. raised its position in Phillips 66 by 4.0% during the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after acquiring an additional 1,578,669 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Phillips 66 by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock worth $1,189,035,000 after purchasing an additional 402,925 shares during the last quarter. Boston Partners lifted its stake in Phillips 66 by 41.4% in the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after buying an additional 1,595,722 shares in the last quarter. Legal & General Group Plc grew its holdings in Phillips 66 by 0.5% during the 2nd quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock valued at $522,240,000 after buying an additional 18,238 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Phillips 66 by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock worth $514,253,000 after buying an additional 111,261 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PSX has been the topic of a number of analyst reports. Raymond James increased their price objective on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Morgan Stanley lowered their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a research report on Thursday, October 17th. Wolfe Research assumed coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Mizuho cut their price target on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Stock Performance

Phillips 66 stock opened at $129.76 on Friday. The company has a market cap of $53.59 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 4.26 and a beta of 1.33. Phillips 66 has a 12 month low of $111.90 and a 12 month high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The stock’s 50-day moving average is $129.68 and its 200-day moving average is $136.00.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (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 earned $4.63 earnings per share. Phillips 66’s revenue for the quarter was down 10.3% on a year-over-year basis. Equities analysts anticipate that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.55%. Phillips 66’s dividend payout ratio (DPR) is currently 59.05%.

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.