Mitsubishi UFJ Asset Management Co. Ltd. Raises Position in Phillips 66 (NYSE:PSX)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Phillips 66 (NYSE:PSX) by 4.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 651,668 shares of the oil and gas company’s stock after acquiring an additional 29,673 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Phillips 66 were worth $75,652,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Bogart Wealth LLC grew its holdings in shares of Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 120 shares in the last quarter. J.Safra Asset Management Corp bought a new stake in Phillips 66 during the fourth quarter valued at approximately $25,000. Stephens Consulting LLC grew its stake in Phillips 66 by 83.5% in the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after buying an additional 111 shares in the last quarter. Graney & King LLC bought a new position in shares of Phillips 66 in the 4th quarter worth $28,000. Finally, Human Investing LLC purchased a new stake in shares of Phillips 66 during the 4th quarter valued at $30,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Down 2.4 %

Shares of NYSE:PSX opened at $121.67 on Friday. Phillips 66 has a 1 year low of $108.91 and a 1 year high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The stock’s 50-day moving average is $124.76 and its 200 day moving average is $125.52. The company has a market cap of $49.60 billion, a PE ratio of 24.63, a P/E/G ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last announced 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 net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the company posted $3.09 EPS. Sell-side analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend payout ratio is currently 93.12%.

Wall Street Analyst Weigh In

PSX has been the topic of a number of research analyst reports. Wells Fargo & Company increased their target price on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research report on Friday, January 3rd. The Goldman Sachs Group cut 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 report on Thursday. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Finally, Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and a consensus price target of $146.43.

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.