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

Daiwa Securities Group Inc. lifted its stake in Phillips 66 (NYSE:PSX) by 13.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 62,260 shares of the oil and gas company’s stock after purchasing an additional 7,235 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Phillips 66 were worth $8,184,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. nVerses Capital LLC acquired a new stake in shares of Phillips 66 during the third quarter worth $26,000. Bank & Trust Co purchased a new position in Phillips 66 in the 2nd quarter worth $31,000. Values First Advisors Inc. acquired a new stake in Phillips 66 during the 3rd quarter worth about $30,000. Opal Wealth Advisors LLC acquired a new position in shares of Phillips 66 in the second quarter valued at about $34,000. Finally, Fortitude Family Office LLC raised its stake in shares of Phillips 66 by 52.3% in the second quarter. Fortitude Family Office LLC now owns 265 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 91 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

PSX stock opened at $133.33 on Tuesday. The business has a 50 day simple moving average of $130.40 and a 200-day simple moving average of $135.17. The company has a market capitalization 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 has a twelve month low of $117.32 and a twelve month 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.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same period last year, the firm posted $4.63 EPS. Phillips 66’s revenue for the quarter was down 10.3% on a year-over-year basis. As a group, equities analysts anticipate that Phillips 66 will post 7.57 EPS for the current year.

Phillips 66 Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Piper Sandler set a $144.00 target price on Phillips 66 in a research report on Thursday, October 17th. JPMorgan Chase & Co. cut their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Morgan Stanley decreased their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. UBS Group decreased their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, Raymond James raised their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.