Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Holdings in Phillips 66 $PSX

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Phillips 66 (NYSE:PSX) by 5.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 818,025 shares of the oil and gas company’s stock after purchasing an additional 39,592 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.20% of Phillips 66 worth $111,268,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. AlphaCore Capital LLC increased its holdings in Phillips 66 by 24.8% during the 3rd quarter. AlphaCore Capital LLC now owns 5,967 shares of the oil and gas company’s stock worth $812,000 after purchasing an additional 1,185 shares during the last quarter. Catalyst Financial Partners LLC grew its position in shares of Phillips 66 by 7.6% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,867 shares of the oil and gas company’s stock worth $254,000 after acquiring an additional 132 shares in the last quarter. MAI Capital Management boosted its holdings in Phillips 66 by 11.5% in the third quarter. MAI Capital Management now owns 53,353 shares of the oil and gas company’s stock worth $7,257,000 after purchasing an additional 5,492 shares during the period. RWA Wealth Partners LLC boosted its holdings in shares of Phillips 66 by 26.0% in the 3rd quarter. RWA Wealth Partners LLC now owns 4,342 shares of the oil and gas company’s stock valued at $591,000 after buying an additional 896 shares during the period. Finally, Waddell & Associates LLC bought a new position in shares of Phillips 66 during the third quarter valued at approximately $396,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Trading Up 0.3%

NYSE PSX opened at $152.44 on Friday. The firm’s 50 day moving average price is $143.55 and its two-hundred day moving average price is $136.90. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.87 and a current ratio of 1.30. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $163.79. The stock has a market cap of $61.09 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.53 and a beta of 0.90.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.32. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.The company had revenue of $32.16 billion during the quarter, compared to analyst estimates of $33.81 billion. During the same quarter in the prior year, the company earned ($0.15) earnings per share. Equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd will be given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Monday, February 23rd. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s dividend payout ratio is 46.95%.

Insider Buying and Selling at Phillips 66

In other news, EVP Don Baldridge sold 7,500 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total value of $1,200,000.00. Following the transaction, the executive vice president owned 38,488 shares in the company, valued at $6,158,080. This represents a 16.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian Mandell sold 25,500 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the completion of the sale, the executive vice president directly owned 56,838 shares of the company’s stock, valued at $7,959,593.52. This trade represents a 30.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 41,788 shares of company stock valued at $6,067,250 in the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PSX has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price target on Phillips 66 from $162.00 to $163.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Morgan Stanley boosted their price target on shares of Phillips 66 from $140.00 to $147.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Zacks Research lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. JPMorgan Chase & Co. dropped their target price on shares of Phillips 66 from $154.00 to $151.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Finally, Raymond James Financial raised their target price on shares of Phillips 66 from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Eleven research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $160.11.

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.