Mizuho Markets Americas LLC Invests $70.98 Million in Phillips 66 (NYSE:PSX)

Mizuho Markets Americas LLC acquired a new stake in Phillips 66 (NYSE:PSX) during the third quarter, HoldingsChannel reports. The fund acquired 540,000 shares of the oil and gas company’s stock, valued at approximately $70,983,000. Phillips 66 makes up approximately 1.5% of Mizuho Markets Americas LLC’s investment portfolio, making the stock its 16th largest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC increased its position in Phillips 66 by 13.0% during the first quarter. Orion Portfolio Solutions LLC now owns 17,456 shares of the oil and gas company’s stock worth $2,851,000 after acquiring an additional 2,009 shares during the period. Banco Santander S.A. acquired a new position in shares of Phillips 66 during the 1st quarter worth approximately $937,000. First Foundation Advisors increased its holdings in shares of Phillips 66 by 8.4% during the first quarter. First Foundation Advisors now owns 4,786 shares of the oil and gas company’s stock worth $782,000 after purchasing an additional 372 shares during the period. Cornerstone Advisors LLC raised its position in shares of Phillips 66 by 12.9% in the first quarter. Cornerstone Advisors LLC now owns 9,600 shares of the oil and gas company’s stock valued at $1,568,000 after buying an additional 1,100 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of 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 during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Scotiabank lowered their price objective 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. UBS Group decreased their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. 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 $182.00 to $167.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Finally, Bank of America started coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price for the company. Five 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 has a consensus rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 Trading Up 0.9 %

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

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data 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 business had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. Phillips 66’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $4.63 earnings per share. As a group, research analysts predict that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s 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.