Nomura Asset Management Co. Ltd. Boosts Stock Position in Phillips 66 (NYSE:PSX)

Nomura Asset Management Co. Ltd. grew its holdings in Phillips 66 (NYSE:PSX) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 132,472 shares of the oil and gas company’s stock after purchasing an additional 267 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Phillips 66 were worth $15,093,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oppenheimer & Co. Inc. grew its stake in Phillips 66 by 10.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock worth $5,349,000 after purchasing an additional 4,515 shares in the last quarter. Flavin Financial Services Inc. bought a new position in shares of Phillips 66 during the 4th quarter worth $1,190,000. Everence Capital Management Inc. purchased a new position in shares of Phillips 66 during the fourth quarter valued at $3,033,000. Donoghue Forlines LLC bought a new stake in shares of Phillips 66 in the fourth quarter valued at about $1,438,000. Finally, Smith Group Asset Management LLC purchased a new stake in Phillips 66 in the fourth quarter worth about $1,149,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Performance

PSX opened at $121.67 on Monday. The company has a market cap of $49.60 billion, a P/E ratio of 24.63, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. Phillips 66 has a 52-week low of $108.91 and a 52-week high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The firm’s 50-day moving average price is $124.76 and its 200-day moving average price is $125.52.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate 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 company earned $3.09 EPS. As a group, equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend payout ratio is presently 93.12%.

Analyst Ratings Changes

Several equities research analysts have recently commented on PSX shares. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a report on Friday, January 3rd. Barclays boosted their price objective on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Mizuho dropped their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $146.43.

Phillips 66 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.