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

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

Other large investors have also recently made changes to their positions in the company. Bogart Wealth LLC lifted its stake 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 buying an additional 120 shares in the last quarter. J.Safra Asset Management Corp bought a new position in shares of Phillips 66 in the fourth quarter valued at $25,000. Stephens Consulting LLC lifted its stake 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 buying an additional 111 shares in the last quarter. Human Investing LLC bought a new position in shares of Phillips 66 in the fourth quarter valued at $30,000. Finally, Webster Bank N. A. lifted its stake in shares of Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 88 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PSX shares. Mizuho lowered their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Barclays increased their target price on shares of Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a report on Friday. 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 report on Friday, January 3rd. Wells Fargo & Company increased their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, StockNews.com downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.43.

Phillips 66 Price Performance

PSX opened at $129.27 on Tuesday. The company has a market capitalization of $52.70 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 4.84 and a beta of 1.31. 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 firm has a 50-day moving average price of $123.11 and a 200-day moving average price of $125.85. Phillips 66 has a twelve month low of $108.91 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 posted $3.09 earnings per share. Equities analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

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

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.