Sumitomo Mitsui Trust Holdings Inc. Grows Position in Phillips 66 (PSX)

Sumitomo Mitsui Trust Holdings Inc. increased its stake in Phillips 66 (NYSE:PSX) by 3.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,945,207 shares of the oil and gas company’s stock after acquiring an additional 67,663 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Phillips 66 were worth $185,125,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in PSX. Winslow Evans & Crocker Inc. increased its stake in shares of Phillips 66 by 2.5% during the first quarter. Winslow Evans & Crocker Inc. now owns 4,186 shares of the oil and gas company’s stock valued at $400,000 after purchasing an additional 104 shares in the last quarter. Torray LLC increased its stake in shares of Phillips 66 by 0.6% during the fourth quarter. Torray LLC now owns 16,962 shares of the oil and gas company’s stock valued at $1,461,000 after purchasing an additional 106 shares in the last quarter. Pflug Koory LLC increased its stake in shares of Phillips 66 by 3.2% during the fourth quarter. Pflug Koory LLC now owns 3,584 shares of the oil and gas company’s stock valued at $309,000 after purchasing an additional 110 shares in the last quarter. First Foundation Advisors grew its holdings in shares of Phillips 66 by 2.1% during the fourth quarter. First Foundation Advisors now owns 5,357 shares of the oil and gas company’s stock valued at $462,000 after buying an additional 112 shares during the last quarter. Finally, Deane Retirement Strategies Inc. grew its holdings in shares of Phillips 66 by 0.6% during the first quarter. Deane Retirement Strategies Inc. now owns 18,423 shares of the oil and gas company’s stock valued at $1,754,000 after buying an additional 112 shares during the last quarter. 71.83% of the stock is owned by institutional investors.

In related news, Chairman Greg C. Garland sold 42,728 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $97.61, for a total value of $4,170,680.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John E. Lowe bought 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was bought at an average price of $84.41 per share, for a total transaction of $168,820.00. The disclosure for this purchase can be found here. Company insiders own 0.13% of the company’s stock.

Shares of NYSE:PSX traded up $1.15 during trading on Tuesday, reaching $85.67. 715,092 shares of the stock traded hands, compared to its average volume of 2,670,509. Phillips 66 has a 52-week low of $78.44 and a 52-week high of $123.97. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The stock has a market cap of $38.47 billion, a price-to-earnings ratio of 7.32, a PEG ratio of 1.36 and a beta of 0.91.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, April 30th. The oil and gas company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.06. Phillips 66 had a net margin of 4.63% and a return on equity of 19.96%. The company had revenue of $23.66 billion for the quarter, compared to analysts’ expectations of $24.66 billion. During the same quarter last year, the company posted $1.04 earnings per share. As a group, sell-side analysts anticipate that Phillips 66 will post 7.26 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a $0.90 dividend. The ex-dividend date is Friday, May 17th. This represents a $3.60 annualized dividend and a yield of 4.20%. This is a boost from Phillips 66’s previous quarterly dividend of $0.80. Phillips 66’s dividend payout ratio (DPR) is currently 27.33%.

A number of equities research analysts have recently commented on PSX shares. Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Argus cut their price target on shares of Phillips 66 to $116.00 and set a “buy” rating on the stock in a report on Thursday, February 14th. Citigroup increased their price target on shares of Phillips 66 from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Jefferies Financial Group cut shares of Phillips 66 from a “buy” rating to a “hold” rating and increased their price target for the company from $105.00 to $107.00 in a report on Monday, April 15th. Finally, ValuEngine cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. Phillips 66 presently has an average rating of “Hold” and an average target price of $119.42.

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Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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