Phillips 66 (NYSE:PSX) Holdings Trimmed by Mizuho Securities USA LLC

Mizuho Securities USA LLC lowered its holdings in Phillips 66 (NYSE:PSX) by 17.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,142 shares of the oil and gas company’s stock after selling 5,542 shares during the period. Mizuho Securities USA LLC’s holdings in Phillips 66 were worth $3,568,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Crewe Advisors LLC acquired a new position in shares of Phillips 66 in the 1st quarter valued at about $25,000. Strategic Financial Concepts LLC acquired a new position in Phillips 66 in the 2nd quarter valued at approximately $26,000. nVerses Capital LLC purchased a new stake in Phillips 66 in the 3rd quarter worth approximately $26,000. Values First Advisors Inc. purchased a new position in shares of Phillips 66 during the 3rd quarter valued at $30,000. Finally, Bank & Trust Co acquired a new position in shares of Phillips 66 in the second quarter worth $31,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Up 0.3 %

Shares of PSX opened at $131.90 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company has a market capitalization of $54.47 billion, a P/E ratio of 16.93, a PEG ratio of 4.29 and a beta of 1.33. The business’s 50 day simple moving average is $130.15 and its 200-day simple moving average is $135.50. Phillips 66 has a one year low of $114.94 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating 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 previous year, the business posted $4.63 earnings per share. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, sell-side analysts predict that Phillips 66 will post 7.63 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.49%. Phillips 66’s dividend payout ratio (DPR) is currently 59.05%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Piper Sandler set a $144.00 target price on Phillips 66 in a research note on Thursday, October 17th. TD Cowen cut their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Raymond James boosted their target price on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Morgan Stanley lowered their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Finally, Barclays dropped their target price on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $149.69.

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.