Phillips 66 (NYSE:PSX) Shares Acquired by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. grew its position in Phillips 66 (NYSE:PSX) by 4.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,179,053 shares of the oil and gas company’s stock after purchasing an additional 51,075 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Phillips 66 were worth $192,587,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PSX. Norges Bank acquired a new stake in Phillips 66 during the 4th quarter worth $559,435,000. Boston Partners raised its stake in Phillips 66 by 962.0% during the 4th quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock worth $513,327,000 after acquiring an additional 3,494,878 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Phillips 66 during the 4th quarter worth $254,336,000. Wellington Management Group LLP raised its stake in Phillips 66 by 20.3% during the 4th quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock worth $1,451,643,000 after acquiring an additional 1,842,226 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its stake in Phillips 66 by 4,556.1% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 953,020 shares of the oil and gas company’s stock worth $126,885,000 after acquiring an additional 932,552 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Trading Up 0.1 %

Shares of Phillips 66 stock opened at $140.55 on Thursday. Phillips 66 has a 52-week low of $94.51 and a 52-week high of $174.08. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The company’s 50-day simple moving average is $142.22 and its 200-day simple moving average is $144.98. The firm has a market cap of $59.59 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 2.13 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The firm had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. During the same quarter last year, the firm earned $4.21 earnings per share. As a group, equities research analysts anticipate that Phillips 66 will post 10.99 earnings per share for the current year.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the transaction, the executive vice president now directly owns 48,365 shares in the company, valued at $7,051,617. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on PSX. Barclays cut their price target on shares of Phillips 66 from $147.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Monday. Mizuho cut their price target on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Raymond James cut their price target on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Finally, Wells Fargo & Company raised their price objective on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $157.07.

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.