155,300 Shares in Phillips 66 $PSX Bought by Hikari Power Ltd

Hikari Power Ltd bought a new stake in shares of Phillips 66 (NYSE:PSX) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 155,300 shares of the oil and gas company’s stock, valued at approximately $26,253,000. Phillips 66 comprises about 3.1% of Hikari Power Ltd’s investment portfolio, making the stock its 6th largest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Plato Investment Management Ltd bought a new position in shares of Phillips 66 in the 2nd quarter worth about $476,000. Bell Investment Advisors Inc bought a new stake in shares of Phillips 66 during the 2nd quarter valued at about $53,000. AMG National Trust Bank acquired a new stake in Phillips 66 during the second quarter worth about $1,208,000. Roman Butler Fullerton & Co. bought a new position in Phillips 66 in the second quarter worth about $430,000. Finally, Simplicity Wealth LLC acquired a new position in Phillips 66 in the second quarter valued at approximately $1,122,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Richard G. Harbison sold 52,100 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total value of $11,657,896.00. Following the sale, the executive vice president directly owned 39,094 shares in the company, valued at $8,747,673.44. This trade represents a 57.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brian Mandell sold 30,000 shares of Phillips 66 stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $215.00, for a total value of $6,450,000.00. Following the sale, the executive vice president directly owned 61,595 shares in the company, valued at $13,242,925. The trade was a 32.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 100,507 shares of company stock valued at $21,770,810 in the last quarter. 0.40% of the stock is owned by insiders.

Analyst Ratings Changes

PSX has been the subject of several recent research reports. JPMorgan Chase & Co. upped their target price on Phillips 66 from $188.00 to $202.00 in a report on Thursday, April 30th. Weiss Ratings raised Phillips 66 from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Guggenheim upgraded Phillips 66 to an “outperform” rating in a research report on Wednesday, May 27th. Tudor Pickering upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, Raymond James Financial increased their target price on Phillips 66 from $218.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $206.56.

Phillips 66 Trading Up 2.9%

Phillips 66 stock opened at $240.50 on Tuesday. Phillips 66 has a 52-week low of $121.24 and a 52-week high of $240.67. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $95.96 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 0.17 and a beta of 0.68. The firm has a 50-day moving average price of $193.87 and a two-hundred day moving average price of $176.91.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, beating the consensus estimate of $7.50 by $1.91. The company had revenue of $52.04 billion for the quarter, compared to analyst estimates of $43.60 billion. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. During the same quarter last year, the business earned $2.38 earnings per share. Sell-side analysts expect that Phillips 66 will post 24.44 earnings per share for the current year.

Phillips 66 announced that its Board of Directors has approved a share buyback program on Friday, July 31st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the oil and gas company to purchase up to 11.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s dividend payout ratio is 28.95%.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.