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

Daiwa Securities Group Inc. lifted its holdings in Phillips 66 (NYSE:PSX) by 27.7% in the fourth quarter, HoldingsChannel reports. The firm owned 48,601 shares of the oil and gas company’s stock after buying an additional 10,536 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Phillips 66 were worth $6,470,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Cardinal Capital Management raised its stake in shares of Phillips 66 by 0.3% in the fourth quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock valued at $3,104,000 after acquiring an additional 77 shares in the last quarter. Aaron Wealth Advisors LLC boosted its stake in shares of Phillips 66 by 3.6% during the fourth quarter. Aaron Wealth Advisors LLC now owns 2,340 shares of the oil and gas company’s stock worth $312,000 after buying an additional 82 shares during the period. Cornerstone Wealth Management LLC grew its holdings in shares of Phillips 66 by 1.3% during the fourth quarter. Cornerstone Wealth Management LLC now owns 6,495 shares of the oil and gas company’s stock worth $865,000 after buying an additional 86 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in Phillips 66 by 0.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 22,214 shares of the oil and gas company’s stock valued at $2,958,000 after acquiring an additional 90 shares during the period. Finally, West Branch Capital LLC lifted its position in Phillips 66 by 49.5% during the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 91 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Down 2.5 %

Phillips 66 stock opened at $153.31 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The company has a 50-day simple moving average of $154.22 and a 200-day simple moving average of $135.06. The firm has a market capitalization of $65.59 billion, a P/E ratio of 9.91, a P/E/G ratio of 1.98 and a beta of 1.37.

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

Phillips 66 Increases Dividend

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

Insider Buying and Selling

In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Richard G. Harbison sold 21,934 shares of the business’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 sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert W. Pease purchased 682 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was acquired 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 in the company, valued at approximately $278,502. The disclosure for this purchase can be found here. Insiders sold 35,056 shares of company stock valued at $5,272,681 over the last 90 days. 0.22% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on PSX. JPMorgan Chase & Co. upped their price target on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Wells Fargo & Company lifted their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, April 8th. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Thursday. Barclays raised their price target on Phillips 66 from $139.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, The Goldman Sachs Group increased their price objective on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $158.00.

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.