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

Mirae Asset Global Investments Co. Ltd. lessened its holdings in Phillips 66 (NYSE:PSX - Free Report) by 29.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,961 shares of the oil and gas company's stock after selling 39,467 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Phillips 66 were worth $12,510,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. First Capital Advisors Group LLC. purchased a new position in shares of Phillips 66 during the second quarter worth about $25,000. Cornerstone Planning Group LLC grew its holdings in shares of Phillips 66 by 134.8% during the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company's stock worth $32,000 after purchasing an additional 151 shares during the last quarter. Worth Asset Management LLC purchased a new position in shares of Phillips 66 during the first quarter worth about $32,000. Bruce G. Allen Investments LLC purchased a new position in shares of Phillips 66 during the fourth quarter worth about $36,000. Finally, Bell Investment Advisors Inc grew its holdings in shares of Phillips 66 by 82.1% during the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company's stock worth $37,000 after purchasing an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Insider Transactions at Phillips 66

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the business's stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the sale, the vice president now owns 6,583 shares of the company's stock, valued at approximately $1,035,242.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Richard G. Harbison sold 21,934 shares of the company's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the sale, the executive vice president now owns 24,941 shares of the company's stock, valued at approximately $3,648,120.07. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Joseph Scott Pruitt sold 7,200 shares of the company's stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the sale, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. Insiders have sold 35,056 shares of company stock valued at $5,272,681 in the last quarter. 4.57% of the stock is currently owned by corporate insiders.

Phillips 66 Price Performance

Shares of NYSE:PSX traded down $3.00 during trading on Friday, hitting $162.41. 2,001,822 shares of the stock were exchanged, compared to its average volume of 3,076,133. The company has a fifty day moving average price of $153.37 and a two-hundred day moving average price of $134.05. The company has a market cap of $69.48 billion, a PE ratio of 10.50, a P/E/G ratio of 2.07 and a beta of 1.37. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.37 by $0.72. The business had revenue of $38.74 billion for the quarter, compared to analyst estimates of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. On average, analysts forecast that Phillips 66 will post 13.3 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a dividend of $1.15 per share. This is a positive change from Phillips 66's previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 annualized dividend and a dividend yield of 2.83%. Phillips 66's payout ratio is 27.15%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PSX. Bank of America raised their price objective on Phillips 66 from $150.00 to $180.00 and gave the stock a "neutral" rating in a report on Friday, March 15th. StockNews.com upgraded Phillips 66 from a "hold" rating to a "buy" rating in a research report on Saturday, February 10th. Citigroup started coverage on Phillips 66 in a research report on Wednesday, January 24th. They issued a "buy" rating on the stock. Piper Sandler boosted their price target on Phillips 66 from $169.00 to $187.00 and gave the company an "overweight" rating in a research report on Friday, April 5th. Finally, Wells Fargo & Company boosted their price target on Phillips 66 from $179.00 to $191.00 and gave the company an "overweight" rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Phillips 66 currently has an average rating of "Moderate Buy" and a consensus price target of $156.86.

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.