Nomura Asset Management Co. Ltd. Buys 4,211 Shares of Phillips 66 (NYSE:PSX)

Nomura Asset Management Co. Ltd. raised its stake in Phillips 66 (NYSE:PSX) by 3.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 132,205 shares of the oil and gas company’s stock after purchasing an additional 4,211 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Phillips 66 were worth $17,378,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its position in Phillips 66 by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock valued at $1,189,035,000 after buying an additional 402,925 shares during the period. Legal & General Group Plc boosted its holdings in shares of Phillips 66 by 0.5% during the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock worth $522,240,000 after purchasing an additional 18,238 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Phillips 66 by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock worth $514,253,000 after purchasing an additional 111,261 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Phillips 66 by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock worth $381,453,000 after purchasing an additional 16,941 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Phillips 66 by 2.9% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company’s stock valued at $397,193,000 after purchasing an additional 79,301 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $125.59 on Wednesday. The stock has a 50-day simple moving average of $130.81 and a two-hundred day simple moving average of $134.30. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a 52-week low of $119.77 and a 52-week high of $174.08. The firm has a market capitalization of $51.87 billion, a PE ratio of 16.12, a P/E/G ratio of 4.24 and a beta of 1.35.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. Phillips 66’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.63 EPS. Analysts forecast that Phillips 66 will post 7.59 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend was Monday, November 18th. Phillips 66’s dividend payout ratio is presently 59.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. TD Cowen cut their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Morgan Stanley dropped their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Wells Fargo & Company reduced their price objective on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research report on Monday. UBS Group decreased their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Scotiabank lowered their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $149.23.

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.