Mizuho Markets Americas LLC Buys Shares of 540,000 Phillips 66 (NYSE:PSX)

Mizuho Markets Americas LLC bought a new position in shares of Phillips 66 (NYSE:PSX - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 540,000 shares of the oil and gas company's stock, valued at approximately $70,983,000. Phillips 66 comprises approximately 1.5% of Mizuho Markets Americas LLC's investment portfolio, making the stock its 16th largest holding. Mizuho Markets Americas LLC owned approximately 0.13% of Phillips 66 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Phillips 66 by 4.0% during the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company's stock worth $6,741,218,000 after purchasing an additional 1,578,669 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Phillips 66 by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company's stock worth $1,189,035,000 after purchasing an additional 402,925 shares during the last quarter. Boston Partners raised its holdings in shares of Phillips 66 by 41.4% during the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company's stock worth $889,214,000 after purchasing an additional 1,595,722 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Phillips 66 by 0.5% during the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company's stock worth $522,240,000 after purchasing an additional 18,238 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Phillips 66 by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company's stock worth $514,253,000 after purchasing an additional 111,261 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Price Performance

PSX traded up $1.15 on Friday, reaching $130.91. 2,275,131 shares of the company's stock were exchanged, compared to its average volume of 2,662,619. The stock has a market cap of $54.06 billion, a PE ratio of 16.80, a P/E/G ratio of 4.26 and a beta of 1.33. Phillips 66 has a twelve month low of $111.90 and a twelve month high of $174.08. The stock's fifty day moving average price is $129.75 and its 200-day moving average price is $135.81. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping 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%. Phillips 66's quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the business posted $4.63 earnings per share. Sell-side analysts expect that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Announces Dividend

The firm 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 dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.51%. Phillips 66's payout ratio is presently 59.05%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Bank of America assumed coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a "buy" rating and a $156.00 price objective for the company. Morgan Stanley cut their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating for the company in a report on Monday, September 16th. TD Cowen cut their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a "buy" rating for the company in a report on Wednesday, September 11th. Raymond James lifted their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an "outperform" rating in a report on Wednesday, July 31st. Finally, Mizuho cut their price objective 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. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Phillips 66 presently has a consensus rating of "Moderate Buy" and a consensus price target of $149.69.

About Phillips 66

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.