Mitsubishi UFJ Asset Management Co. Ltd. Has $92.87 Million Stock Position in Phillips 66 $PSX

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Phillips 66 (NYSE:PSX) by 5.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 778,433 shares of the oil and gas company’s stock after acquiring an additional 39,107 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.19% of Phillips 66 worth $92,867,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Elliott Investment Management L.P. lifted its stake in Phillips 66 by 1,929.0% in the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after purchasing an additional 14,950,000 shares during the last quarter. Chronos Wealth Management LLC acquired a new position in shares of Phillips 66 during the second quarter worth $281,000. Sustainable Insight Capital Management LLC bought a new position in shares of Phillips 66 in the 1st quarter valued at $1,457,000. Evergreen Wealth Solutions LLC bought a new position in shares of Phillips 66 in the 1st quarter valued at $292,000. Finally, Jump Financial LLC boosted its holdings in shares of Phillips 66 by 307.1% during the 1st quarter. Jump Financial LLC now owns 11,276 shares of the oil and gas company’s stock valued at $1,392,000 after acquiring an additional 8,506 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction on Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the sale, the executive vice president directly owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gregory Hayes acquired 8,350 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were bought at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the transaction, the director directly owned 29,423 shares in the company, valued at approximately $3,527,817.70. This represents a 39.62% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, October 8th. Bank of America downgraded Phillips 66 from a “buy” rating to a “neutral” rating and upped their price objective for the company from $144.00 to $147.00 in a research note on Wednesday, September 3rd. Jefferies Financial Group lifted their target price on shares of Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. Mizuho boosted their target price on shares of Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Monday, September 15th. Finally, Cowen reaffirmed a “buy” rating on shares of Phillips 66 in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of “Hold” and a consensus price target of $143.56.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $137.80 on Monday. The business has a 50-day moving average price of $133.20 and a two-hundred day moving average price of $124.96. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $142.35. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The company has a market cap of $55.52 billion, a P/E ratio of 37.65, a PEG ratio of 1.81 and a beta of 1.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.The company had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. During the same period in the previous year, the business earned $2.04 EPS. As a group, analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.5%. Phillips 66’s dividend payout ratio (DPR) is 131.15%.

About Phillips 66

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.