Resona Asset Management Co. Ltd. Acquires Shares of 133,656 Phillips 66 (NYSE:PSX)

Resona Asset Management Co. Ltd. bought a new position in shares of Phillips 66 (NYSE:PSX - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 133,656 shares of the oil and gas company's stock, valued at approximately $15,203,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in Phillips 66 in the fourth quarter valued at approximately $497,648,000. Raymond James Financial Inc. acquired a new position in Phillips 66 in the fourth quarter valued at about $168,790,000. Amundi raised its position in shares of Phillips 66 by 25.7% during the fourth quarter. Amundi now owns 3,682,414 shares of the oil and gas company's stock worth $428,081,000 after purchasing an additional 753,653 shares during the period. National Bank of Canada FI lifted its holdings in shares of Phillips 66 by 166.7% during the 4th quarter. National Bank of Canada FI now owns 1,134,582 shares of the oil and gas company's stock valued at $129,266,000 after purchasing an additional 709,219 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Phillips 66 by 7.3% in the fourth 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 buying an additional 639,323 shares during the period. 76.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PSX has been the topic of several recent research reports. The Goldman Sachs Group lowered shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price target on the stock. in a research note on Thursday, March 27th. Piper Sandler lowered Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Friday, January 10th. Mizuho reduced their price target on Phillips 66 from $140.00 to $132.00 and set a "neutral" rating for the company in a research report on Wednesday. Barclays lowered their price target on Phillips 66 from $135.00 to $106.00 and set an "equal weight" rating on the stock in a research report on Thursday. Finally, Raymond James cut their price objective on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $142.21.

Phillips 66 Stock Performance

Phillips 66 stock traded down $1.61 during midday trading on Friday, hitting $95.38. The company's stock had a trading volume of 1,020,812 shares, compared to its average volume of 2,870,233. The company has a 50-day moving average price of $121.48 and a two-hundred day moving average price of $123.78. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $166.47. The company has a market cap of $38.89 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 4.84 and a beta of 1.17. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the firm earned $3.09 earnings per share. As a group, sell-side analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66's dividend payout ratio (DPR) is presently 93.12%.

Phillips 66 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.