Rakuten Investment Management Inc. Takes Position in Phillips 66 $PSX

Rakuten Investment Management Inc. acquired a new stake in Phillips 66 (NYSE:PSX) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 108,874 shares of the oil and gas company’s stock, valued at approximately $14,809,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC increased its position in shares of Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after purchasing an additional 7,214 shares during the last quarter. Woodline Partners LP lifted its position in Phillips 66 by 40.7% in the first quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock valued at $4,308,000 after buying an additional 10,089 shares during the last quarter. Golden State Equity Partners purchased a new position in Phillips 66 during the second quarter worth about $210,000. CHICAGO TRUST Co NA boosted its stake in Phillips 66 by 10.8% during the second quarter. CHICAGO TRUST Co NA now owns 4,220 shares of the oil and gas company’s stock worth $503,000 after buying an additional 412 shares during the period. Finally, Forte Capital LLC ADV increased its position in shares of Phillips 66 by 15.0% during the second quarter. Forte Capital LLC ADV now owns 2,175 shares of the oil and gas company’s stock valued at $259,000 after acquiring an additional 284 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the topic of several recent analyst reports. Wolfe Research upped their price objective on shares of Phillips 66 from $158.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, December 5th. TD Cowen reissued a “buy” rating on shares of Phillips 66 in a research report on Thursday, October 30th. BMO Capital Markets upped their price target on Phillips 66 from $152.00 to $160.00 in a research note on Tuesday, November 11th. Citigroup lifted their price objective on Phillips 66 from $137.00 to $146.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Finally, Wells Fargo & Company boosted their price objective on Phillips 66 from $154.00 to $162.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 currently has an average rating of “Hold” and an average target price of $150.41.

Phillips 66 Stock Up 2.3%

Shares of NYSE PSX opened at $141.64 on Thursday. The stock has a market cap of $57.07 billion, a P/E ratio of 38.70, a PEG ratio of 0.39 and a beta of 0.90. The business’s fifty day simple moving average is $136.09 and its 200-day simple moving average is $132.25. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $145.68. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.38. The company had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.During the same quarter in the prior year, the business earned $2.04 EPS. As a group, equities analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Insider Buying and Selling

In other Phillips 66 news, EVP Brian Mandell sold 25,500 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $140.04, for a total value of $3,571,020.00. Following the sale, the executive vice president directly owned 56,838 shares of the company’s stock, valued at approximately $7,959,593.52. This represents a 30.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the completion of the sale, the chief financial officer owned 89,771 shares in the company, valued at $12,388,398. The trade was a 25.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 86,094 shares of company stock worth $11,955,366. Company insiders own 0.22% of the company’s stock.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.