Nomura Asset Management Co. Ltd. Has $17.20 Million Stock Position in Phillips 66 $PSX

Nomura Asset Management Co. Ltd. boosted its stake in Phillips 66 (NYSE:PSX) by 3.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,195 shares of the oil and gas company’s stock after acquiring an additional 4,725 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Phillips 66 were worth $17,202,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PSX. Elliott Investment Management L.P. boosted its stake in shares of Phillips 66 by 1,929.0% in the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after purchasing an additional 14,950,000 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Phillips 66 by 17.4% in the second quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock valued at $1,226,815,000 after buying an additional 1,532,967 shares during the period. Valeo Financial Advisors LLC boosted its position in Phillips 66 by 9,530.9% during the second quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company’s stock valued at $172,564,000 after acquiring an additional 1,431,450 shares during the last quarter. Nuveen LLC acquired a new stake in Phillips 66 during the 1st quarter worth about $156,482,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Phillips 66 by 11.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock worth $828,442,000 after acquiring an additional 682,459 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $138.00, for a total value of $4,140,000.00. Following the completion of the sale, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. This represents a 25.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the transaction, the executive vice president directly owned 34,587 shares in the company, valued at $4,842,180. This represents a 11.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 38,786 shares of company stock valued at $5,348,075 over the last three months. 0.22% of the stock is currently owned by insiders.

Phillips 66 Trading Down 2.9%

NYSE:PSX opened at $134.40 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. Phillips 66 has a one year low of $91.01 and a one year high of $143.25. The company has a market cap of $54.15 billion, a PE ratio of 36.72, a PEG ratio of 1.81 and a beta of 1.08. The firm has a 50-day moving average of $134.28 and a 200-day moving average of $126.70.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. The business had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.During the same quarter in the previous year, the business earned $2.04 EPS. As a group, equities research analysts expect 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 will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be issued a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 3.6%. Phillips 66’s dividend payout ratio is 131.15%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PSX. Jefferies Financial Group upped their target price on Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research report on Friday, October 10th. UBS Group restated a “buy” rating and set a $160.00 price target on shares of Phillips 66 in a report on Monday, November 10th. Bank of America lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $144.00 to $147.00 in a research note on Wednesday, September 3rd. Morgan Stanley raised their price target on shares of Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a report on Friday, October 3rd. Finally, TD Cowen lifted their price target on shares of Phillips 66 from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $145.71.

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.