Daiwa Securities Group Inc. Boosts Holdings in Phillips 66 (NYSE:PSX)

Daiwa Securities Group Inc. grew its position in Phillips 66 (NYSE:PSX) by 13.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,260 shares of the oil and gas company’s stock after acquiring an additional 7,235 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Phillips 66 were worth $8,184,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Lazard Asset Management LLC lifted its stake in Phillips 66 by 12.7% in the first quarter. Lazard Asset Management LLC now owns 3,998 shares of the oil and gas company’s stock worth $652,000 after purchasing an additional 451 shares during the last quarter. Caxton Associates LP lifted its stake in shares of Phillips 66 by 22.2% during the 1st quarter. Caxton Associates LP now owns 5,630 shares of the oil and gas company’s stock worth $920,000 after acquiring an additional 1,024 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its holdings in Phillips 66 by 1.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 20,955 shares of the oil and gas company’s stock valued at $3,423,000 after acquiring an additional 325 shares during the period. B. Riley Wealth Advisors Inc. grew its position in Phillips 66 by 15.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 38,175 shares of the oil and gas company’s stock valued at $6,236,000 after acquiring an additional 5,089 shares during the last quarter. Finally, Beacon Capital Management LLC increased its stake in Phillips 66 by 75.5% in the first quarter. Beacon Capital Management LLC now owns 509 shares of the oil and gas company’s stock worth $83,000 after purchasing an additional 219 shares during the period. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of PSX stock opened at $133.33 on Tuesday. The stock’s 50-day moving average is $130.40 and its 200 day moving average is $135.17. Phillips 66 has a 1-year low of $117.32 and a 1-year high of $174.08. 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 cap of $55.06 billion, a P/E ratio of 17.12, a PEG ratio of 4.40 and a beta of 1.33.

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 for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the business earned $4.63 EPS. Research analysts predict that Phillips 66 will post 7.57 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s payout ratio is presently 59.05%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Mizuho cut their price target on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Piper Sandler set a $144.00 target price on shares of Phillips 66 in a research report on Thursday, October 17th. Wells Fargo & Company decreased their price target on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Bank of America assumed coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective on the stock. Finally, JPMorgan Chase & Co. decreased their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.