Resona Asset Management Co. Ltd. Purchases Shares of 133,656 Phillips 66 (NYSE:PSX)

Resona Asset Management Co. Ltd. purchased a new position in shares of Phillips 66 (NYSE:PSX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 133,656 shares of the oil and gas company’s stock, valued at approximately $15,203,000.

Other institutional investors also recently modified their holdings of the company. NewEdge Wealth LLC grew its position in shares of Phillips 66 by 0.5% in the 4th quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock valued at $1,732,000 after buying an additional 81 shares during the last quarter. JBR Co Financial Management Inc boosted its holdings in Phillips 66 by 0.9% in the fourth quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company’s stock valued at $1,085,000 after acquiring an additional 85 shares during the last quarter. Nwam LLC increased its position in Phillips 66 by 2.2% during the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock valued at $442,000 after purchasing an additional 85 shares during the period. Webster Bank N. A. raised its holdings in Phillips 66 by 48.4% during the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 88 shares during the last quarter. Finally, PFG Private Wealth Management LLC lifted its position in shares of Phillips 66 by 7.7% in the 4th quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company’s stock worth $140,000 after purchasing an additional 88 shares during the period. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PSX. The Goldman Sachs Group cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective for the company. in a research report on Thursday, March 27th. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Barclays boosted their price objective 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 cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company boosted their price target on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus 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 has a market cap of $40.22 billion, a P/E ratio of 19.97, a PEG ratio of 4.84 and a beta of 1.17. The company has a fifty day simple moving average of $124.24 and a 200 day simple moving average of $125.13. 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 $95.67 and a 12-month high of $171.41.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the company earned $3.09 EPS. Sell-side analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a $1.15 dividend. 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 dividend payout ratio (DPR) is presently 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.