Phillips 66 (NYSE:PSX) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 13.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PSX. Mitchell & Pahl Private Wealth LLC raised its holdings in shares of Phillips 66 by 0.4% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company's stock valued at $2,519,000 after acquiring an additional 74 shares in the last quarter. Catalyst Financial Partners LLC raised its holdings in Phillips 66 by 5.1% in the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company's stock worth $214,000 after purchasing an additional 74 shares in the last quarter. Advisory Alpha LLC raised its holdings in Phillips 66 by 4.8% in the second quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company's stock worth $233,000 after purchasing an additional 76 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its holdings in Phillips 66 by 1.8% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,363 shares of the oil and gas company's stock worth $616,000 after purchasing an additional 77 shares in the last quarter. Finally, Krane Funds Advisors LLC raised its holdings in Phillips 66 by 3.6% in the third quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company's stock worth $309,000 after purchasing an additional 82 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wells Fargo & Company reduced their target price on shares of Phillips 66 from $182.00 to $167.00 and set an "overweight" rating for the company in a report on Wednesday, October 9th. Mizuho reduced their target price on shares of Phillips 66 from $154.00 to $150.00 and set a "neutral" rating for the company in a report on Monday, September 16th. UBS Group reduced their target price on shares of Phillips 66 from $150.00 to $138.00 and set a "buy" rating for the company in a report on Monday, November 4th. TD Cowen dropped their price target on Phillips 66 from $162.00 to $150.00 and set a "buy" rating on the stock in a research note on Wednesday, September 11th. Finally, Piper Sandler set a $144.00 price target on Phillips 66 in a research note on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of "Moderate Buy" and an average price target of $149.69.

Phillips 66 Stock Performance

NYSE PSX traded up $0.97 during trading hours on Tuesday, reaching $134.25. The stock had a trading volume of 2,705,535 shares, compared to its average volume of 2,664,939. The stock has a fifty day moving average of $130.40 and a 200 day moving average of $135.17. The stock has a market cap of $55.44 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 4.40 and a beta of 1.33. Phillips 66 has a 52-week low of $117.32 and a 52-week high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS 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 return on equity of 13.12% and a net margin of 2.24%. Phillips 66's revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.63 earnings per share. Sell-side analysts predict that Phillips 66 will post 7.57 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66's payout ratio is presently 59.05%.

Phillips 66 Company 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.