Nomura Asset Management Co. Ltd. Boosts Holdings in Phillips 66 $PSX

Nomura Asset Management Co. Ltd. boosted its position in Phillips 66 (NYSE:PSX) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 147,408 shares of the oil and gas company’s stock after buying an additional 3,171 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Phillips 66 were worth $19,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently made changes to their positions in PSX. Board of the Pension Protection Fund purchased a new stake in shares of Phillips 66 during the 4th quarter worth $26,000. Accordant Advisory Group Inc boosted its position in shares of Phillips 66 by 900.0% during the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 180 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Phillips 66 during the 4th quarter worth $27,000. Stephens Consulting LLC boosted its position in shares of Phillips 66 by 67.7% during the 4th quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 90 shares in the last quarter. Finally, Dorato Capital Management purchased a new stake in shares of Phillips 66 during the 4th quarter worth $35,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Lisa Ann Davis sold 3,800 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $174.37, for a total value of $662,606.00. Following the completion of the transaction, the director owned 8,701 shares of the company’s stock, valued at approximately $1,517,193.37. The trade was a 30.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Brian Mandell sold 42,800 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $169.53, for a total transaction of $7,255,884.00. Following the transaction, the executive vice president directly owned 61,595 shares of the company’s stock, valued at approximately $10,442,200.35. This represents a 41.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 114,029 shares of company stock worth $19,641,455. Company insiders own 0.40% of the company’s stock.

Phillips 66 Trading Up 2.4%

Shares of PSX stock opened at $180.06 on Tuesday. The firm has a 50-day moving average price of $172.41 and a 200 day moving average price of $155.05. Phillips 66 has a twelve month low of $111.19 and a twelve month high of $190.61. The company has a market capitalization of $72.19 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 0.26 and a beta of 0.68. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating the consensus estimate of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. During the same quarter in the previous year, the company posted ($0.90) EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Research analysts forecast that Phillips 66 will post 17.64 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were paid a $1.27 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $5.08 annualized dividend and a yield of 2.8%. Phillips 66’s payout ratio is presently 50.05%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Morgan Stanley restated an “overweight” rating and set a $180.00 target price on shares of Phillips 66 in a research report on Thursday, April 30th. JPMorgan Chase & Co. boosted their target price on shares of Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. Argus boosted their target price on shares of Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Weiss Ratings lowered shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Finally, Jefferies Financial Group boosted their target price on shares of Phillips 66 from $173.00 to $191.00 and gave the stock a “hold” rating in a research report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $191.28.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.