Nomura Holdings Inc. Raises Stake in Phillips 66 (PSX)
Nomura Holdings Inc. boosted its position in Phillips 66 (NYSE:PSX) by 102.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,455 shares of the oil and gas company’s stock after buying an additional 176,911 shares during the period. Nomura Holdings Inc.’s holdings in Phillips 66 were worth $353,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Phillips 66 by 2.5% in the first quarter. Vanguard Group Inc. now owns 31,695,502 shares of the oil and gas company’s stock worth $2,510,918,000 after buying an additional 780,469 shares during the period. BlackRock Inc. boosted its position in shares of Phillips 66 by 2,329.3% in the first quarter. BlackRock Inc. now owns 27,821,897 shares of the oil and gas company’s stock valued at $2,204,052,000 after buying an additional 26,676,647 shares during the last quarter. State Street Corp boosted its position in shares of Phillips 66 by 4.0% in the first quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock valued at $1,908,079,000 after buying an additional 921,895 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Phillips 66 by 4.3% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,349,815 shares of the oil and gas company’s stock valued at $1,136,792,000 after buying an additional 585,176 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Phillips 66 by 2.5% in the first quarter. Wells Fargo & Company MN now owns 8,350,941 shares of the oil and gas company’s stock valued at $661,561,000 after buying an additional 205,952 shares during the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.
Phillips 66 (NYSE PSX) traded down 0.5306% during trading on Thursday, reaching $84.0417. The company had a trading volume of 411,264 shares. The company has a market capitalization of $42.99 billion, a price-to-earnings ratio of 25.1321 and a beta of 1.22. Phillips 66 has a one year low of $75.14 and a one year high of $88.87. The company has a 50-day moving average price of $82.83 and a 200 day moving average price of $79.81.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.07. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. The business had revenue of $24.58 billion during the quarter, compared to the consensus estimate of $25.14 billion. During the same period in the prior year, the firm posted $0.94 EPS. Analysts expect that Phillips 66 will post $4.03 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Wednesday, August 16th. Phillips 66’s payout ratio is 83.58%.
Several brokerages have recently weighed in on PSX. Jefferies Group LLC set a $74.00 price objective on Phillips 66 and gave the company a “hold” rating in a report on Saturday, June 3rd. Scotiabank restated a “hold” rating and issued a $86.00 price objective on shares of Phillips 66 in a report on Tuesday, June 27th. BidaskClub upgraded Phillips 66 from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. TheStreet upgraded Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, April 28th. Finally, Barclays PLC restated an “equal weight” rating and issued a $89.00 price objective (up previously from $87.00) on shares of Phillips 66 in a report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $83.53.
About Phillips 66
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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