Mitsubishi UFJ Asset Management Co. Ltd. Acquires 29,673 Shares of Phillips 66 (NYSE:PSX)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Phillips 66 (NYSE:PSX) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 651,668 shares of the oil and gas company’s stock after buying an additional 29,673 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of Phillips 66 worth $75,652,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research note on Friday, January 3rd. Wells Fargo & Company increased their price objective 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. Mizuho dropped their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. The Goldman Sachs Group lowered Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price for the company. in a report on Thursday. Finally, StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $146.43.

Phillips 66 Stock Performance

NYSE PSX opened at $121.67 on Friday. The firm has a market cap of $49.60 billion, a P/E ratio of 24.63, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average is $124.76 and its 200-day moving average is $125.52. Phillips 66 has a 12-month low of $108.91 and a 12-month high of $174.08.

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

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders 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 presently 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.