Phillips 66 $PSX Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its holdings in Phillips 66 by 4.8% during the 2nd quarter, now owning 49,390 shares valued at approximately $5.89 million.
• Insider trading has been notable, with Director Gregory Hayes purchasing 8,350 shares valued at over $1 million, representing a 39.62% increase in his ownership.
• Phillips 66's stock is currently rated as a "Moderate Buy" by analysts, with varying target prices, the highest being set at $170.00 by Evercore ISI.

Mirae Asset Global Investments Co. Ltd. lifted its position in Phillips 66 (NYSE:PSX - Free Report) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,390 shares of the oil and gas company's stock after purchasing an additional 2,260 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Phillips 66 were worth $5,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in PSX. Wolff Wiese Magana LLC grew its position in shares of Phillips 66 by 62.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company's stock valued at $26,000 after acquiring an additional 82 shares during the period. von Borstel & Associates Inc. purchased a new position in Phillips 66 during the first quarter worth approximately $27,000. Olde Wealth Management LLC acquired a new stake in Phillips 66 in the first quarter valued at approximately $28,000. Opal Wealth Advisors LLC purchased a new stake in shares of Phillips 66 in the first quarter valued at approximately $29,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in shares of Phillips 66 during the 1st quarter worth approximately $29,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Gregory Hayes bought 8,350 shares of Phillips 66 stock in a transaction on Thursday, August 14th. The shares were bought at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the purchase, the director directly owned 29,423 shares of the company's stock, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sigmund L. Cornelius bought 500 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was purchased at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the completion of the acquisition, the director directly owned 21,543 shares in the company, valued at $2,661,637.65. The trade was a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 9,850 shares of company stock worth $1,188,910 in the last quarter. 0.22% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PSX has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Phillips 66 from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Jefferies Financial Group lifted their target price on shares of Phillips 66 from $130.00 to $133.00 and gave the company a "hold" rating in a research report on Monday, September 15th. Argus raised shares of Phillips 66 to a "strong-buy" rating in a research note on Thursday, July 31st. Evercore ISI raised their price target on shares of Phillips 66 from $130.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, September 19th. Finally, Wells Fargo & Company cut their price objective on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of "Moderate Buy" and an average target price of $140.19.

Phillips 66 Stock Down 0.0%

PSX stock opened at $132.97 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average of $128.99 and a two-hundred day moving average of $120.43. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $142.35. The company has a market cap of $53.74 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 1.91 and a beta of 1.11.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The business had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same period in the prior year, the business earned $2.31 earnings per share. As a group, analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were paid a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.6%. Phillips 66's dividend payout ratio (DPR) is 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.

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