Dai ichi Life Insurance Company Ltd Sells 669 Shares of Phillips 66 (NYSE:PSX)

Dai ichi Life Insurance Company Ltd lessened its stake in shares of Phillips 66 (NYSE:PSX) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,641 shares of the oil and gas company’s stock after selling 669 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Phillips 66 were worth $4,291,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in PSX. Strategic Financial Concepts LLC bought a new stake in Phillips 66 during the 2nd quarter valued at approximately $26,000. nVerses Capital LLC bought a new stake in Phillips 66 during the 3rd quarter valued at approximately $26,000. Values First Advisors Inc. bought a new stake in Phillips 66 during the 3rd quarter valued at approximately $30,000. Bank & Trust Co bought a new stake in Phillips 66 during the 2nd quarter valued at approximately $31,000. Finally, Opal Wealth Advisors LLC bought a new stake in Phillips 66 during the 2nd quarter valued at approximately $34,000. Institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

PSX has been the subject of several recent analyst reports. Raymond James increased their target price on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. TD Cowen reduced their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Morgan Stanley reduced their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Piper Sandler set a $144.00 price objective on Phillips 66 in a research report on Thursday, October 17th. Finally, Wells Fargo & Company reduced their price objective on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Trading Up 0.7 %

Shares of PSX opened at $134.25 on Wednesday. Phillips 66 has a 1 year low of $117.32 and a 1 year high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a 50 day simple moving average of $130.52 and a 200-day simple moving average of $135.09. The stock has a market cap of $55.44 billion, a PE ratio of 17.23, a PEG ratio of 4.40 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same period in the prior year, the firm posted $4.63 EPS. Phillips 66’s quarterly revenue was down 10.3% compared to the same quarter last year. On average, sell-side analysts predict that Phillips 66 will post 7.57 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.43%. Phillips 66’s dividend payout ratio is 59.05%.

Phillips 66 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.