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

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

Several other large investors have also bought and sold shares of PSX. CWA Asset Management Group LLC acquired a new position in Phillips 66 in the third quarter valued at approximately $244,000. Assetmark Inc. lifted its holdings in Phillips 66 by 20.9% in the third quarter. Assetmark Inc. now owns 2,692 shares of the oil and gas company’s stock valued at $354,000 after buying an additional 466 shares during the period. Covestor Ltd lifted its holdings in Phillips 66 by 25.4% in the third quarter. Covestor Ltd now owns 514 shares of the oil and gas company’s stock valued at $68,000 after buying an additional 104 shares during the period. Sigma Planning Corp lifted its holdings in Phillips 66 by 2.6% in the third quarter. Sigma Planning Corp now owns 13,226 shares of the oil and gas company’s stock valued at $1,739,000 after buying an additional 340 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new position in Phillips 66 in the third quarter valued at approximately $138,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Mizuho lowered their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Barclays lowered 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. Finally, Wells Fargo & Company lifted their price objective on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Price Performance

NYSE PSX opened at $123.66 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12-month low of $108.91 and a 12-month high of $174.08. The company has a market capitalization of $50.42 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. The firm’s 50 day moving average is $122.25 and its 200-day moving average is $126.12.

Phillips 66 (NYSE:PSX) last posted 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 net margin of 1.46% and a return on equity of 8.58%. During the same quarter last year, the company earned $3.09 earnings per share. Equities research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business 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 annualized dividend and a dividend yield of 3.72%. The ex-dividend date was Monday, February 24th. Phillips 66’s payout ratio is presently 93.12%.

About Phillips 66

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.