Phillips 66 (PSX) Shares Bought by Mizuho Asset Management Co. Ltd.
Mizuho Asset Management Co. Ltd. raised its stake in shares of Phillips 66 (NYSE:PSX) by 61.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,211 shares of the company’s stock after buying an additional 2,366 shares during the period. Mizuho Asset Management Co. Ltd.’s holdings in Phillips 66 were worth $493,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Wellesley Investment Partners LLC raised its stake in shares of Phillips 66 by 11.8% in the second quarter. Wellesley Investment Partners LLC now owns 6,025 shares of the company’s stock valued at $478,000 after buying an additional 635 shares during the last quarter. Sii Investments Inc. WI raised its stake in shares of Phillips 66 by 1.3% in the second quarter. Sii Investments Inc. WI now owns 93,636 shares of the company’s stock valued at $7,434,000 after buying an additional 1,246 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of Phillips 66 by 18.4% in the second quarter. Brown Advisory Inc. now owns 77,383 shares of the company’s stock valued at $6,139,000 after buying an additional 12,052 shares during the last quarter. Pittenger & Anderson Inc. raised its stake in shares of Phillips 66 by 0.4% in the second quarter. Pittenger & Anderson Inc. now owns 73,020 shares of the company’s stock valued at $5,793,000 after buying an additional 260 shares during the last quarter. Finally, East Coast Asset Management LLC. raised its stake in shares of Phillips 66 by 9.7% in the second quarter. East Coast Asset Management LLC. now owns 77,311 shares of the company’s stock valued at $6,134,000 after buying an additional 6,857 shares during the last quarter. 69.98% of the stock is currently owned by institutional investors.
Phillips 66 (NYSE:PSX) traded up 0.04% during midday trading on Wednesday, hitting $79.61. The company had a trading volume of 261,314 shares. The stock has a 50 day moving average of $78.34 and a 200 day moving average of $80.69. Phillips 66 has a 52-week low of $71.74 and a 52-week high of $94.12. The firm has a market cap of $41.62 billion, a price-to-earnings ratio of 13.78 and a beta of 1.38.
Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, July 29th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.01. Phillips 66 had a return on equity of 13.44% and a net margin of 3.51%. During the same quarter in the previous year, the firm posted $1.83 EPS. On average, analysts anticipate that Phillips 66 will post $3.38 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date was Tuesday, August 16th. Phillips 66’s dividend payout ratio (DPR) is presently 43.83%.
Several analysts have commented on the company. Vetr lowered Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $87.77 price objective on the stock. in a report on Monday. Piper Jaffray Cos. lifted their price target on Phillips 66 from $74.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, September 16th. TheStreet raised Phillips 66 from a “hold” rating to a “buy” rating in a research note on Monday, August 29th. Finally, Jefferies Group began coverage on Phillips 66 in a research note on Tuesday, August 23rd. They issued a “hold” rating and a $72.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $85.52.
In other news, VP Paula Ann Johnson sold 40,141 shares of the firm’s stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $79.57, for a total transaction of $3,194,019.37. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Berkshire Hathaway Inc acquired 83,466 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were acquired at an average price of $78.29 per share, for a total transaction of $6,534,553.14. The disclosure for this purchase can be found here. Company insiders own 0.05% of the company’s stock.
About Phillips 66
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing, and specialties businesses. The Company operates its business through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.
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