Mitsubishi UFJ Trust & Banking Corp Decreases Holdings in Phillips 66 (NYSE:PSX)

Mitsubishi UFJ Trust & Banking Corp lowered its position in Phillips 66 (NYSE:PSX - Free Report) by 5.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 209,568 shares of the oil and gas company's stock after selling 12,934 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.05% of Phillips 66 worth $23,876,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in shares of Phillips 66 by 7.3% during the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company's stock valued at $1,064,601,000 after acquiring an additional 639,323 shares during the period. Amundi lifted its position in Phillips 66 by 25.7% during the fourth quarter. Amundi now owns 3,682,414 shares of the oil and gas company's stock valued at $428,081,000 after purchasing an additional 753,653 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Phillips 66 by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,002,995 shares of the oil and gas company's stock valued at $342,131,000 after purchasing an additional 101,108 shares during the period. Raymond James Financial Inc. purchased a new stake in Phillips 66 in the fourth quarter worth about $168,790,000. Finally, National Pension Service raised its stake in shares of Phillips 66 by 11.9% in the fourth quarter. National Pension Service now owns 1,120,657 shares of the oil and gas company's stock worth $127,676,000 after buying an additional 118,923 shares during the period. Hedge funds and other institutional investors own 76.93% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Piper Sandler lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Friday, January 10th. Wolfe Research raised shares of Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. Wells Fargo & Company lifted their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Barclays increased their price target on Phillips 66 from $115.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Finally, Mizuho dropped their price objective on Phillips 66 from $150.00 to $147.00 and set a "neutral" rating for the company in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $146.43.

Phillips 66 Trading Up 0.7 %

Shares of PSX stock traded up $0.90 on Tuesday, reaching $124.38. 2,000,871 shares of the company's stock were exchanged, compared to its average volume of 2,781,507. The company's fifty day simple moving average is $124.90 and its 200 day simple moving average is $125.49. Phillips 66 has a 52 week low of $108.91 and a 52 week high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $50.71 billion, a PE ratio of 25.18, a P/E/G ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates 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 previous year, the business earned $3.09 EPS. As a group, analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 3.70%. Phillips 66's dividend payout ratio is currently 93.12%.

Phillips 66 Company 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.