Tokio Marine Asset Management Co. Ltd. Has $2.62 Million Holdings in Phillips 66 (NYSE:PSX)

Tokio Marine Asset Management Co. Ltd. raised its position in Phillips 66 (NYSE:PSX) by 2.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 19,705 shares of the oil and gas company’s stock after acquiring an additional 472 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Phillips 66 were worth $2,624,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Cornerstone Planning Group LLC raised its stake in shares of Phillips 66 by 134.8% in the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 151 shares during the period. Bruce G. Allen Investments LLC bought a new stake in shares of Phillips 66 in the fourth quarter valued at $36,000. West Branch Capital LLC grew its position in shares of Phillips 66 by 49.5% in the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 91 shares in the last quarter. Bell Investment Advisors Inc grew its position in shares of Phillips 66 by 82.1% in the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 138 shares in the last quarter. Finally, Headinvest LLC purchased a new position in shares of Phillips 66 in the third quarter valued at $51,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.1 %

Shares of Phillips 66 stock traded down $0.10 during trading hours on Thursday, reaching $157.69. The stock had a trading volume of 1,034,396 shares, compared to its average volume of 2,939,676. The firm has a 50 day simple moving average of $155.18 and a two-hundred day simple moving average of $136.46. The firm has a market capitalization of $67.46 billion, a price-to-earnings ratio of 10.20, a P/E/G ratio of 1.95 and a beta of 1.37. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The company had revenue of $38.74 billion during the quarter, compared to analysts’ expectations of $34.30 billion. As a group, equities research analysts anticipate that Phillips 66 will post 13.59 earnings per share for the current year.

Phillips 66 Increases Dividend

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 given a dividend of $1.15 per share. The ex-dividend date is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a yield of 2.92%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is 27.15%.

Insider Buying and Selling

In other news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the sale, the vice president now owns 6,583 shares in the company, valued at $1,035,242.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PSX has been the subject of several recent research reports. Scotiabank lifted their price target on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Barclays boosted their target price on Phillips 66 from $139.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. The Goldman Sachs Group boosted their target price on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Bank of America boosted their target price on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Finally, Mizuho lowered their target price on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $158.00.

About Phillips 66

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.