Nomura Asset Management Co. Ltd. Increases Stake in Phillips 66 (NYSE:PSX)

Nomura Asset Management Co. Ltd. increased its holdings in shares of Phillips 66 (NYSE:PSX) by 3.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 132,205 shares of the oil and gas company’s stock after acquiring an additional 4,211 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Phillips 66 were worth $17,378,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Catalyst Financial Partners LLC grew its stake in Phillips 66 by 5.1% in the 2nd quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock worth $214,000 after acquiring an additional 74 shares in the last quarter. Advisory Alpha LLC lifted its holdings in shares of Phillips 66 by 4.8% in the 2nd quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock worth $233,000 after buying an additional 76 shares during the period. Pinnacle Wealth Management Advisory Group LLC lifted its holdings in shares of Phillips 66 by 1.8% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,363 shares of the oil and gas company’s stock worth $616,000 after buying an additional 77 shares during the period. Krane Funds Advisors LLC grew its position in shares of Phillips 66 by 3.6% during the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock worth $309,000 after buying an additional 82 shares in the last quarter. Finally, Richwood Investment Advisors LLC increased its stake in shares of Phillips 66 by 1.9% during the third quarter. Richwood Investment Advisors LLC now owns 4,580 shares of the oil and gas company’s stock valued at $602,000 after buying an additional 85 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $125.59 on Wednesday. The firm has a market capitalization of $51.87 billion, a P/E ratio of 16.12, a PEG ratio of 4.24 and a beta of 1.35. Phillips 66 has a 52 week low of $119.77 and a 52 week high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a 50 day moving average price of $130.81 and a 200 day moving average price of $134.30.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data 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 firm had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the company earned $4.63 earnings per share. Sell-side analysts expect that Phillips 66 will post 7.59 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend was Monday, November 18th. Phillips 66’s payout ratio is 59.05%.

Analyst Ratings Changes

A number of research firms recently weighed in on PSX. Wells Fargo & Company lowered their price objective on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research note on Monday. Scotiabank lowered their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Morgan Stanley cut their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Bank of America initiated coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price for the company. Finally, UBS Group dropped their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $149.23.

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.