Mizuho Securities USA LLC Reduces Holdings in Phillips 66 (NYSE:PSX)

Mizuho Securities USA LLC reduced its position in Phillips 66 (NYSE:PSX) by 17.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,142 shares of the oil and gas company’s stock after selling 5,542 shares during the period. Mizuho Securities USA LLC’s holdings in Phillips 66 were worth $3,568,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Bank of New York Mellon Corp grew its stake 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 purchasing an additional 402,925 shares in the last quarter. Boston Partners increased its stake in shares of Phillips 66 by 41.4% in the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after buying an additional 1,595,722 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Phillips 66 by 0.5% in 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 buying an additional 18,238 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in 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 valued at $514,253,000 after acquiring an additional 111,261 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Phillips 66 by 96.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock valued at $467,743,000 after acquiring an additional 1,408,954 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

NYSE:PSX opened at $131.90 on Friday. Phillips 66 has a 52-week low of $114.94 and a 52-week high of $174.08. 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 $130.15 and its 200 day moving average price is $135.50. The firm has a market cap of $54.47 billion, a P/E ratio of 16.93, a PEG ratio of 4.29 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the business earned $4.63 earnings per share. As a group, sell-side analysts predict that Phillips 66 will post 7.63 earnings per share for the current fiscal 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 issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio is 59.05%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Barclays decreased their price objective on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Wells Fargo & Company lowered their price objective on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Raymond James increased their price target on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Scotiabank cut their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus target price of $149.69.

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.