Mizuho Markets Americas LLC Purchases New Position in Phillips 66 (NYSE:PSX)

Mizuho Markets Americas LLC bought a new position in shares of Phillips 66 (NYSE:PSX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 540,000 shares of the oil and gas company’s stock, valued at approximately $70,983,000. Phillips 66 comprises 1.5% of Mizuho Markets Americas LLC’s holdings, making the stock its 16th biggest position. Mizuho Markets Americas LLC owned about 0.13% of Phillips 66 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PSX. Orion Portfolio Solutions LLC raised its stake in Phillips 66 by 13.0% during the 1st quarter. Orion Portfolio Solutions LLC now owns 17,456 shares of the oil and gas company’s stock valued at $2,851,000 after purchasing an additional 2,009 shares during the last quarter. Banco Santander S.A. bought a new stake in shares of Phillips 66 during the 1st quarter valued at $937,000. First Foundation Advisors raised its position in shares of Phillips 66 by 8.4% in the 1st quarter. First Foundation Advisors now owns 4,786 shares of the oil and gas company’s stock valued at $782,000 after acquiring an additional 372 shares during the period. Cornerstone Advisors LLC lifted its holdings in Phillips 66 by 12.9% during the first quarter. Cornerstone Advisors LLC now owns 9,600 shares of the oil and gas company’s stock worth $1,568,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Phillips 66 by 4.0% in the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after buying an additional 1,578,669 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PSX shares. Wells Fargo & Company cut their price objective on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Morgan Stanley dropped their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Bank of America started coverage on Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target for the company. Barclays lowered their price objective on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Finally, UBS Group reduced their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $130.91 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average price is $129.75 and its two-hundred day moving average price is $135.81. The company has a market cap of $54.06 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 4.26 and a beta of 1.33. Phillips 66 has a twelve month low of $111.90 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same period in the previous year, the firm earned $4.63 EPS. The firm’s revenue was down 10.3% compared to the same quarter last year. On average, analysts predict that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is presently 59.05%.

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.