Daiwa Securities Group Inc. Has $7.83 Million Holdings in Phillips 66 (NYSE:PSX)

Daiwa Securities Group Inc. increased its stake in Phillips 66 (NYSE:PSX) by 10.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,752 shares of the oil and gas company’s stock after buying an additional 6,492 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Phillips 66 were worth $7,833,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Mizuho Securities USA LLC increased its holdings in shares of Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after acquiring an additional 2,467,316 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $168,790,000. Amundi increased its holdings in shares of Phillips 66 by 25.7% during the 4th quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock worth $428,081,000 after acquiring an additional 753,653 shares during the last quarter. ING Groep NV increased its holdings in shares of Phillips 66 by 123.2% during the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after acquiring an additional 653,032 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Phillips 66 by 7.3% during the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after acquiring an additional 639,323 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PSX shares. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Barclays dropped their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Mizuho dropped their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Finally, Wells Fargo & Company lifted their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Stock Down 2.0 %

Shares of PSX opened at $123.66 on Wednesday. Phillips 66 has a one year low of $108.91 and a one year high of $174.08. The firm has a 50 day simple moving average of $122.25 and a two-hundred day simple moving average of $126.12. 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 company has a market cap of $50.42 billion, a P/E ratio of 25.03, a P/E/G ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter last year, the firm earned $3.09 EPS. Research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 3.72%. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

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.