Sompo Japan Nipponkoa Asset Management CO. LTD. Increases Stake in Phillips 66 (NYSE:PSX)

Sompo Japan Nipponkoa Asset Management CO. LTD. grew its position in Phillips 66 (NYSE:PSX) by 15.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,345 shares of the oil and gas company’s stock after acquiring an additional 5,700 shares during the quarter. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Phillips 66 were worth $2,325,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Total Clarity Wealth Management Inc. purchased a new position in Phillips 66 in the 4th quarter worth about $28,000. Efficient Wealth Management LLC purchased a new position in Phillips 66 in the 1st quarter worth about $28,000. Lighthouse Financial Advisors Inc. purchased a new position in Phillips 66 in the 4th quarter worth about $30,000. Savior LLC purchased a new position in Phillips 66 in the 4th quarter worth about $32,000. Finally, JFS Wealth Advisors LLC grew its holdings in Phillips 66 by 56.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 317 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 115 shares in the last quarter. 69.03% of the stock is currently owned by institutional investors and hedge funds.

In other Phillips 66 news, Director John E. Lowe purchased 2,000 shares of Phillips 66 stock in a transaction on Thursday, February 27th. The stock was bought at an average cost of $76.71 per share, with a total value of $153,420.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gary Kramer Adams purchased 1,250 shares of Phillips 66 stock in a transaction on Tuesday, May 5th. The shares were acquired at an average cost of $76.40 per share, with a total value of $95,500.00. Following the completion of the transaction, the director now directly owns 10,213 shares in the company, valued at approximately $780,273.20. The disclosure for this purchase can be found here. Insiders purchased a total of 4,250 shares of company stock valued at $323,850 over the last quarter. 0.63% of the stock is owned by company insiders.

PSX stock traded down $0.63 during trading on Friday, reaching $76.46. The company had a trading volume of 2,031,543 shares, compared to its average volume of 4,297,782. The firm has a 50-day simple moving average of $64.94 and a 200-day simple moving average of $88.00. The company has a market cap of $33.66 billion, a price-to-earnings ratio of 112.44, a price-to-earnings-growth ratio of 6.26 and a beta of 1.59. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.61 and a current ratio of 1.11. Phillips 66 has a twelve month low of $40.04 and a twelve month high of $119.92.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.39. The company had revenue of $21.24 billion during the quarter, compared to analysts’ expectations of $22.04 billion. Phillips 66 had a net margin of 0.35% and a return on equity of 14.90%. During the same period last year, the business earned $0.40 EPS. Sell-side analysts expect that Phillips 66 will post 2.32 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date is Friday, May 15th. Phillips 66’s dividend payout ratio (DPR) is presently 44.72%.

Several research analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of Phillips 66 from $68.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. increased their target price on shares of Phillips 66 from $73.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Piper Sandler dropped their target price on shares of Phillips 66 from $139.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Cfra dropped their target price on shares of Phillips 66 from $110.00 to $49.00 and set a “buy” rating on the stock in a report on Friday, March 20th. Finally, Royal Bank of Canada upgraded shares of Phillips 66 from a “sector perform” rating to an “outperform” rating and set a $67.00 target price on the stock in a report on Sunday, March 29th. Two analysts have rated the stock with a sell rating and seventeen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $89.00.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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