Mizuho Securities USA LLC Buys 2,467,316 Shares of Phillips 66 (NYSE:PSX)

Mizuho Securities USA LLC boosted its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 7,549.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,500,000 shares of the oil and gas company's stock after acquiring an additional 2,467,316 shares during the period. Phillips 66 accounts for about 0.9% of Mizuho Securities USA LLC's portfolio, making the stock its 18th biggest position. Mizuho Securities USA LLC owned about 0.61% of Phillips 66 worth $328,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Mizuho Markets Americas LLC bought a new position in shares of Phillips 66 in the 3rd quarter valued at $70,983,000. Northcape Wealth Management LLC increased its stake in shares of Phillips 66 by 5.9% in the 3rd quarter. Northcape Wealth Management LLC now owns 2,689 shares of the oil and gas company's stock valued at $353,000 after purchasing an additional 150 shares during the last quarter. Altrius Capital Management Inc increased its stake in shares of Phillips 66 by 10.2% in the 3rd quarter. Altrius Capital Management Inc now owns 32,565 shares of the oil and gas company's stock valued at $4,281,000 after purchasing an additional 3,004 shares during the last quarter. Archer Investment Corp boosted its holdings in shares of Phillips 66 by 56.4% during the 3rd quarter. Archer Investment Corp now owns 1,573 shares of the oil and gas company's stock valued at $207,000 after acquiring an additional 567 shares in the last quarter. Finally, Empirical Finance LLC boosted its holdings in shares of Phillips 66 by 1.4% during the 3rd quarter. Empirical Finance LLC now owns 19,236 shares of the oil and gas company's stock valued at $2,529,000 after acquiring an additional 261 shares in the last quarter. Institutional investors own 76.93% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PSX. Wells Fargo & Company cut their target price on Phillips 66 from $182.00 to $167.00 and set an "overweight" rating on the stock in a report on Wednesday, October 9th. Piper Sandler set a $144.00 target price on Phillips 66 in a report on Thursday, October 17th. TD Cowen cut their target price on Phillips 66 from $162.00 to $150.00 and set a "buy" rating on the stock in a report on Wednesday, September 11th. Mizuho cut their target price on Phillips 66 from $154.00 to $150.00 and set a "neutral" rating on the stock in a report on Monday, September 16th. Finally, UBS Group cut their target price on Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a report on Monday, November 4th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $149.69.

Phillips 66 Stock Up 0.9 %

Phillips 66 stock traded up $1.15 during midday trading on Friday, reaching $130.91. The stock had a trading volume of 2,275,131 shares, compared to its average volume of 2,662,619. Phillips 66 has a 12 month low of $111.90 and a 12 month high of $174.08. The company has a market capitalization of $54.06 billion, a P/E ratio of 16.80, a PEG ratio of 4.26 and a beta of 1.33. The company has a fifty day moving average price of $129.75 and a two-hundred day moving average price of $135.81. 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 - 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. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same period in the previous year, the company posted $4.63 EPS. The firm's revenue was down 10.3% compared to the same quarter last year. As a group, equities analysts expect that Phillips 66 will post 7.63 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Monday, November 18th. Phillips 66's payout ratio is 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.