Phillips 66 (NYSE:PSX) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Phillips 66 (NYSE:PSXGet Rating) by 61.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 63,813 shares of the oil and gas company’s stock after purchasing an additional 24,371 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Phillips 66 were worth $5,513,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Ensign Peak Advisors Inc raised its holdings in Phillips 66 by 11.2% in the 4th quarter. Ensign Peak Advisors Inc now owns 43,489 shares of the oil and gas company’s stock valued at $3,150,000 after acquiring an additional 4,386 shares during the last quarter. Clark Capital Management Group Inc. raised its holdings in Phillips 66 by 4.0% in the 4th quarter. Clark Capital Management Group Inc. now owns 6,504 shares of the oil and gas company’s stock valued at $471,000 after acquiring an additional 249 shares during the last quarter. Gotham Asset Management LLC raised its holdings in Phillips 66 by 511.6% in the 4th quarter. Gotham Asset Management LLC now owns 23,008 shares of the oil and gas company’s stock valued at $1,667,000 after acquiring an additional 19,246 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in Phillips 66 by 12.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 101,287 shares of the oil and gas company’s stock valued at $7,338,000 after acquiring an additional 11,334 shares during the last quarter. Finally, Mutual Advisors LLC raised its holdings in Phillips 66 by 3.2% in the 4th quarter. Mutual Advisors LLC now owns 3,529 shares of the oil and gas company’s stock valued at $256,000 after acquiring an additional 111 shares during the last quarter. Institutional investors and hedge funds own 71.42% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on PSX. The Goldman Sachs Group reiterated a “buy” rating and issued a $109.00 price objective on shares of Phillips 66 in a report on Friday, July 1st. Piper Sandler cut their price target on shares of Phillips 66 from $120.00 to $113.00 and set an “overweight” rating for the company in a report on Monday, September 12th. Wells Fargo & Company raised their price target on shares of Phillips 66 from $119.00 to $123.00 and gave the stock an “overweight” rating in a report on Wednesday. Wolfe Research downgraded shares of Phillips 66 from an “outperform” rating to a “peer perform” rating in a report on Wednesday, September 14th. Finally, Credit Suisse Group raised their price target on shares of Phillips 66 to $122.00 in a report on Thursday, June 9th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $106.73.

Phillips 66 Stock Performance

Shares of PSX stock opened at $82.27 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 0.51. Phillips 66 has a 52 week low of $66.88 and a 52 week high of $111.28. The stock has a market capitalization of $39.58 billion, a PE ratio of 7.09, a P/E/G ratio of 0.42 and a beta of 1.39. The firm has a 50 day moving average of $86.90 and a two-hundred day moving average of $88.23.

Phillips 66 (NYSE:PSXGet Rating) last issued its quarterly earnings results on Friday, July 29th. The oil and gas company reported $6.77 EPS for the quarter, beating the consensus estimate of $5.92 by $0.85. Phillips 66 had a net margin of 3.59% and a return on equity of 29.60%. The company had revenue of $49.31 billion during the quarter, compared to analysts’ expectations of $40.93 billion. During the same quarter last year, the company posted $0.74 EPS. The firm’s revenue was up 76.8% compared to the same quarter last year. On average, research analysts predict that Phillips 66 will post 16.14 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th were given a $0.97 dividend. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $3.88 annualized dividend and a yield of 4.72%. Phillips 66’s dividend payout ratio is presently 33.42%.

Phillips 66 Profile

(Get Rating)

Phillips 66 operates as an energy manufacturing and logistics company. 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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