Sumitomo Mitsui DS Asset Management Company Ltd Decreases Holdings in Phillips 66 $PSX

Sumitomo Mitsui DS Asset Management Company Ltd reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 16.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,294 shares of the oil and gas company’s stock after selling 9,992 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Phillips 66 were worth $6,841,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in PSX. Brighton Jones LLC boosted its holdings in Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after purchasing an additional 7,214 shares in the last quarter. Woodline Partners LP raised its holdings in Phillips 66 by 40.7% during the first quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock worth $4,308,000 after purchasing an additional 10,089 shares in the last quarter. Integrity Alliance LLC. purchased a new stake in shares of Phillips 66 during the 1st quarter worth approximately $269,000. Geneos Wealth Management Inc. lifted its position in shares of Phillips 66 by 5.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,609 shares of the oil and gas company’s stock worth $569,000 after buying an additional 234 shares during the last quarter. Finally, Strs Ohio acquired a new position in shares of Phillips 66 in the 1st quarter valued at $11,401,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Activity

In other news, EVP Brian Mandell sold 26,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total value of $3,607,216.00. Following the transaction, the executive vice president owned 56,838 shares of the company’s stock, valued at approximately $7,825,455.84. The trade was a 31.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the stock in a transaction on Friday, January 9th. The stock was sold at an average price of $145.00, for a total value of $637,130.00. Following the sale, the executive vice president directly owned 30,193 shares of the company’s stock, valued at approximately $4,377,985. This represents a 12.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 86,094 shares of company stock valued at $11,955,366. Company insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 1.4%

NYSE PSX opened at $142.24 on Monday. The firm’s fifty day moving average is $135.86 and its two-hundred day moving average is $131.40. Phillips 66 has a one year low of $91.01 and a one year high of $145.68. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.23. The firm has a market cap of $57.31 billion, a PE ratio of 38.86, a P/E/G ratio of 0.39 and a beta of 0.90.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. The firm had revenue of $33.69 billion for the quarter, compared to analyst estimates of $32.29 billion. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.During the same quarter last year, the company posted $2.04 earnings per share. Analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PSX shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Phillips 66 in a research note on Wednesday, October 8th. Jefferies Financial Group raised their price objective on Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 18th. Wall Street Zen downgraded Phillips 66 from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Finally, BMO Capital Markets upped their target price on Phillips 66 from $152.00 to $160.00 in a research report on Tuesday, November 11th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.88.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.