MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Stock Holdings in Phillips 66 $PSX

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 45.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,743 shares of the oil and gas company’s stock after purchasing an additional 19,059 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Phillips 66 were worth $7,488,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Elliott Investment Management L.P. raised its stake in Phillips 66 by 1,929.0% during the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after purchasing an additional 14,950,000 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Phillips 66 by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock valued at $828,442,000 after acquiring an additional 682,459 shares during the period. Invesco Ltd. raised its stake in shares of Phillips 66 by 15.9% in the first quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock valued at $588,489,000 after acquiring an additional 653,248 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Phillips 66 by 11.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,781,064 shares of the oil and gas company’s stock valued at $466,886,000 after acquiring an additional 377,132 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Phillips 66 by 3.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,103,316 shares of the oil and gas company’s stock valued at $383,197,000 after acquiring an additional 100,321 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In other Phillips 66 news, Director Gregory Hayes bought 8,350 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were bought at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the acquisition, the director directly owned 29,423 shares in the company, valued at approximately $3,527,817.70. The trade was a 39.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael A. Heim purchased 1,000 shares of the stock in a transaction dated Wednesday, July 30th. The stock was purchased at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the completion of the acquisition, the director directly owned 12,043 shares in the company, valued at approximately $1,517,056.71. This represents a 9.06% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 9,850 shares of company stock worth $1,188,910 and sold 18,586 shares worth $2,389,145. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PSX shares. Scotiabank reissued a “sector perform” rating and issued a $133.00 target price on shares of Phillips 66 in a research note on Friday, July 11th. Wells Fargo & Company reduced their target price on shares of Phillips 66 from $149.00 to $147.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 11th. Barclays increased their target price on shares of Phillips 66 from $115.00 to $127.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 9th. UBS Group increased their target price on shares of Phillips 66 from $141.00 to $143.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Finally, Raymond James Financial increased their target price on shares of Phillips 66 from $142.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $135.80.

Phillips 66 Trading Down 0.7%

PSX stock opened at $131.35 on Thursday. The company has a market capitalization of $53.08 billion, a PE ratio of 31.57, a P/E/G ratio of 2.06 and a beta of 1.15. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $140.60. The firm’s 50-day moving average is $126.75 and its 200 day moving average is $119.52. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The company had revenue of $33.77 billion for the quarter, compared to analysts’ expectations of $32.11 billion. During the same period in the prior year, the business earned $2.31 EPS. On average, research analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, August 19th. Phillips 66’s dividend payout ratio is presently 115.38%.

About Phillips 66

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.