Daiwa Securities Group Inc. Raises Holdings in Phillips 66 (NYSE:PSX)

Daiwa Securities Group Inc. boosted its stake in Phillips 66 (NYSE:PSX) by 27.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,601 shares of the oil and gas company’s stock after purchasing an additional 10,536 shares during the period. Daiwa Securities Group Inc.’s holdings in Phillips 66 were worth $6,470,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSX. Moneta Group Investment Advisors LLC boosted its position in Phillips 66 by 100,843.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 9,979,304 shares of the oil and gas company’s stock valued at $1,038,646,000 after buying an additional 9,969,418 shares during the period. Barclays PLC increased its holdings in Phillips 66 by 416.9% during the 2nd quarter. Barclays PLC now owns 7,451,470 shares of the oil and gas company’s stock valued at $710,721,000 after purchasing an additional 6,009,826 shares during the period. Norges Bank purchased a new stake in Phillips 66 in the 4th quarter worth approximately $364,237,000. Wellington Management Group LLP grew its position in shares of Phillips 66 by 62.1% in the 1st quarter. Wellington Management Group LLP now owns 7,188,087 shares of the oil and gas company’s stock worth $620,979,000 after buying an additional 2,753,700 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Phillips 66 during the fourth quarter valued at approximately $254,336,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 2.5 %

PSX stock opened at $153.31 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08. The company has a market capitalization of $65.59 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 1.98 and a beta of 1.37. The business has a 50 day simple moving average of $154.22 and a two-hundred day simple moving average of $135.06.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The firm had revenue of $38.74 billion during the quarter, compared to analyst estimates of $34.30 billion. Research analysts anticipate that Phillips 66 will post 13.25 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a $1.15 dividend. The ex-dividend date is Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a yield of 3.00%. Phillips 66’s dividend payout ratio is 27.15%.

Analyst Ratings Changes

Several research firms recently weighed in on PSX. The Goldman Sachs Group lifted their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. StockNews.com cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. raised their price objective on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Mizuho reduced their target price on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Finally, Barclays raised their target price on Phillips 66 from $139.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $158.00.

Insiders Place Their Bets

In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the sale, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Robert W. Pease acquired 682 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were purchased at an average cost of $146.58 per share, with a total value of $99,967.56. Following the completion of the acquisition, the director now directly owns 1,900 shares of the company’s stock, valued at $278,502. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. Insiders have sold a total of 35,056 shares of company stock worth $5,272,681 in the last three months. Corporate insiders own 0.22% of the company’s stock.

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.