Nikko Asset Management Americas Inc. Sells 661 Shares of Phillips 66 (NYSE:PSX)

Nikko Asset Management Americas Inc. reduced its position in Phillips 66 (NYSE:PSX) by 12.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,490 shares of the oil and gas company’s stock after selling 661 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Phillips 66 were worth $512,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PSX. Bogart Wealth LLC boosted its position in shares of Phillips 66 by 120.0% in the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 120 shares during the period. J.Safra Asset Management Corp bought a new position in shares of Phillips 66 in the fourth quarter valued at approximately $25,000. Stephens Consulting LLC boosted its position in shares of Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 111 shares during the period. Human Investing LLC bought a new position in shares of Phillips 66 in the fourth quarter valued at approximately $30,000. Finally, Webster Bank N. A. lifted its position in Phillips 66 by 48.4% during the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 88 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Up 2.0 %

Shares of NYSE PSX opened at $129.27 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 52 week low of $108.91 and a 52 week high of $174.08. The firm’s fifty day moving average is $123.11 and its 200 day moving average is $125.85. The company has a market cap of $52.70 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the previous year, the company earned $3.09 earnings per share. On average, equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Monday, February 24th. Phillips 66’s payout ratio is 93.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research report on Friday. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Wells Fargo & Company lifted their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Finally, Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $149.43.

Phillips 66 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.