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

Mirae Asset Global Investments Co. Ltd. increased its stake in Phillips 66 (NYSE:PSX - Free Report) by 10.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 47,130 shares of the oil and gas company's stock after purchasing an additional 4,425 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Phillips 66 were worth $5,739,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC boosted its position in shares of Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock worth $1,166,000 after purchasing an additional 7,214 shares during the period. SVB Wealth LLC bought a new stake in Phillips 66 during the 4th quarter valued at approximately $507,000. Fisher Asset Management LLC lifted its holdings in Phillips 66 by 17.6% in the 4th quarter. Fisher Asset Management LLC now owns 6,157 shares of the oil and gas company's stock worth $702,000 after purchasing an additional 920 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Phillips 66 by 19.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,444 shares of the oil and gas company's stock worth $386,000 after purchasing an additional 556 shares during the period. Finally, Norden Group LLC boosted its stake in Phillips 66 by 58.8% in the 4th quarter. Norden Group LLC now owns 5,508 shares of the oil and gas company's stock worth $628,000 after purchasing an additional 2,039 shares during the period. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Brian Mandell sold 9,800 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total value of $1,225,000.00. Following the sale, the executive vice president owned 56,838 shares in the company, valued at $7,104,750. This represents a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Pease purchased 439 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 22nd. The shares were bought at an average price of $113.85 per share, with a total value of $49,980.15. Following the completion of the transaction, the director owned 4,091 shares of the company's stock, valued at $465,760.35. This represents a 12.02% increase in their position. The disclosure for this purchase can be found here. 0.22% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Compass Point started coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a "buy" rating on the stock. Tudor Pickering cut shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Wells Fargo & Company dropped their price objective on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a report on Wednesday, June 11th. Cantor Fitzgerald initiated coverage on Phillips 66 in a report on Wednesday, June 18th. They issued a "neutral" rating on the stock. Finally, Morgan Stanley dropped their price target on Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $133.93.

Phillips 66 Trading Up 1.1%

Shares of NYSE PSX traded up $1.39 during mid-day trading on Thursday, reaching $127.85. The company had a trading volume of 553,920 shares, compared to its average volume of 3,094,047. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63. The stock has a market cap of $52.09 billion, a price-to-earnings ratio of 29.11, a price-to-earnings-growth ratio of 1.93 and a beta of 1.02. The business's 50-day moving average is $116.04 and its 200-day moving average is $116.90. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. The firm had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. During the same period last year, the firm earned $1.90 earnings per share. Equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a dividend of $1.20 per share. The ex-dividend date was Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a yield of 3.75%. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend payout ratio is currently 109.34%.

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.