Meiji Yasuda Asset Management Co Ltd. Cuts Position in Phillips 66 (NYSE:PSX)

Meiji Yasuda Asset Management Co Ltd. trimmed its position in shares of Phillips 66 (NYSE:PSX) by 0.7% during the 4th quarter, Holdings Channel reports. The fund owned 14,964 shares of the oil and gas company’s stock after selling 109 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Phillips 66 were worth $1,705,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in Phillips 66 by 7.3% during the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock valued at $1,064,601,000 after purchasing an additional 639,323 shares in the last quarter. Amundi increased its holdings in shares of Phillips 66 by 25.7% in the 4th quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock worth $428,081,000 after buying an additional 753,653 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Phillips 66 by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,002,995 shares of the oil and gas company’s stock valued at $342,131,000 after buying an additional 101,108 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Phillips 66 in the 4th quarter valued at about $168,790,000. Finally, National Pension Service grew its position in Phillips 66 by 11.9% in the fourth quarter. National Pension Service now owns 1,120,657 shares of the oil and gas company’s stock worth $127,676,000 after acquiring an additional 118,923 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of recent research reports. Mizuho decreased their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Barclays lifted their price objective on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $147.54.

Phillips 66 Trading Up 0.8 %

PSX opened at $126.54 on Thursday. 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 stock’s fifty day moving average is $124.64 and its two-hundred day moving average is $125.57. The company has a market capitalization of $51.59 billion, a P/E ratio of 25.61, a PEG ratio of 4.84 and a beta of 1.31. Phillips 66 has a 52 week low of $108.91 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate 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 earned $3.09 earnings per share. Analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a dividend of $1.15 per share. The ex-dividend date was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.64%. 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.