Sumitomo Mitsui Trust Group Inc. Cuts Stock Position in Phillips 66 (NYSE:PSX)

Sumitomo Mitsui Trust Group Inc. lowered its stake in Phillips 66 (NYSE:PSX - Free Report) by 4.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 946,078 shares of the oil and gas company's stock after selling 47,372 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Phillips 66 worth $124,362,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Phillips 66 by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company's stock valued at $6,741,218,000 after buying an additional 1,578,669 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Phillips 66 by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company's stock worth $1,189,035,000 after purchasing an additional 402,925 shares in the last quarter. Boston Partners boosted its position in shares of Phillips 66 by 41.4% during the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company's stock worth $889,214,000 after acquiring an additional 1,595,722 shares during the last quarter. Legal & General Group Plc grew its stake in Phillips 66 by 0.5% during the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company's stock valued at $522,240,000 after acquiring an additional 18,238 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Phillips 66 by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company's stock valued at $514,253,000 after acquiring an additional 111,261 shares during the last quarter. Institutional investors own 76.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PSX shares. Morgan Stanley reduced their target price on Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating on the stock in a report on Monday, September 16th. TD Cowen dropped their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a "buy" rating for the company in a research note on Wednesday, September 11th. Bank of America assumed coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a "buy" rating and a $156.00 price target for the company. Barclays reduced their price objective on Phillips 66 from $133.00 to $124.00 and set an "equal weight" rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. lowered their price objective on Phillips 66 from $160.00 to $141.00 and set an "overweight" rating for the company in a research note on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $149.69.

Phillips 66 Stock Down 0.6 %

Shares of PSX traded down $0.82 during midday trading on Thursday, reaching $129.09. 668,346 shares of the stock were exchanged, compared to its average volume of 2,657,184. The company has a market capitalization of $53.31 billion, a P/E ratio of 16.68, a PEG ratio of 4.18 and a beta of 1.33. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 52 week low of $111.90 and a 52 week high of $174.08. The company's 50 day moving average is $129.68 and its two-hundred day moving average is $136.00.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter last year, the firm posted $4.63 EPS. The company's revenue for the quarter was down 10.3% on a year-over-year basis. On average, sell-side analysts anticipate that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.56%. Phillips 66's dividend payout ratio (DPR) is 59.05%.

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.