Phillips 66 (NYSE:PSX) Shares Bought by Nomura Asset Management Co. Ltd.

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

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Strategic Financial Concepts LLC acquired a new position in shares of Phillips 66 during the second quarter worth about $26,000. nVerses Capital LLC acquired a new position in Phillips 66 during the third quarter worth about $26,000. Values First Advisors Inc. acquired a new position in Phillips 66 during the third quarter worth about $30,000. Kings Path Partners LLC acquired a new stake in shares of Phillips 66 during the 2nd quarter valued at approximately $38,000. Finally, Industrial Alliance Investment Management Inc. acquired a new stake in shares of Phillips 66 during the 2nd quarter valued at approximately $40,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on PSX. TD Cowen lowered 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. UBS Group lowered their price target on shares of Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a research report on Monday, November 4th. Morgan Stanley cut their price objective on Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating for the company in a research report on Monday, September 16th. JPMorgan Chase & Co. reduced their target price on Phillips 66 from $160.00 to $141.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 2nd. Finally, Mizuho dropped their price target on Phillips 66 from $154.00 to $150.00 and set a "neutral" rating for the company in a research report on Monday, September 16th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $149.23.

Phillips 66 Trading Down 0.2 %

PSX stock traded down $0.29 on Wednesday, hitting $125.33. 2,571,354 shares of the company were exchanged, compared to its average volume of 2,661,517. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The stock has a market capitalization of $51.76 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 4.24 and a beta of 1.35. Phillips 66 has a twelve month low of $119.77 and a twelve month high of $174.08. The business's fifty day moving average is $130.66 and its two-hundred day moving average is $134.18.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $36.31 billion. During the same period last year, the company posted $4.63 EPS. The business's quarterly revenue was down 10.3% on a year-over-year basis. As a group, research analysts forecast that Phillips 66 will post 7.59 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Monday, November 18th. Phillips 66's payout ratio is currently 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.