Tokio Marine Asset Management Co. Ltd. Increases Stake in Phillips 66 (NYSE:PSX)

Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 2.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,126 shares of the oil and gas company’s stock after buying an additional 418 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Phillips 66 were worth $2,777,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Phillips 66 by 10.7% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 58,808 shares of the oil and gas company’s stock worth $9,606,000 after purchasing an additional 5,690 shares during the period. Orion Portfolio Solutions LLC increased its stake in shares of Phillips 66 by 13.0% during the first quarter. Orion Portfolio Solutions LLC now owns 17,456 shares of the oil and gas company’s stock worth $2,851,000 after buying an additional 2,009 shares during the period. Banco Santander S.A. acquired a new stake in Phillips 66 in the first quarter valued at approximately $937,000. Pinkerton Retirement Specialists LLC lifted its stake in Phillips 66 by 12.5% in the first quarter. Pinkerton Retirement Specialists LLC now owns 29,836 shares of the oil and gas company’s stock worth $4,873,000 after acquiring an additional 3,318 shares during the last quarter. Finally, First Foundation Advisors grew its holdings in Phillips 66 by 8.4% during the 1st quarter. First Foundation Advisors now owns 4,786 shares of the oil and gas company’s stock worth $782,000 after acquiring an additional 372 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE PSX opened at $129.76 on Friday. The firm has a market cap of $53.59 billion, a P/E ratio of 16.66, a P/E/G ratio of 4.26 and a beta of 1.33. Phillips 66 has a 52-week low of $111.90 and a 52-week high of $174.08. The business’s 50-day moving average price is $129.68 and its 200 day moving average price is $136.00. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same quarter in the previous year, the company posted $4.63 earnings per share. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, equities research analysts expect that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.55%. The ex-dividend date is Monday, November 18th. Phillips 66’s payout ratio is 59.05%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PSX. Morgan Stanley reduced their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Mizuho cut their price target on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Barclays decreased their price target on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday. Bank of America initiated coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective on the stock. Finally, TD Cowen decreased their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $149.69.

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.