Mirae Asset Global Investments Co. Ltd. Increases Holdings in Phillips 66 (NYSE:PSX)

Mirae Asset Global Investments Co. Ltd. lifted its position in Phillips 66 (NYSE:PSXGet Rating) by 61.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm 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 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Dravo Bay LLC purchased a new stake in shares of Phillips 66 in the first quarter valued at approximately $26,000. First Community Trust NA boosted its holdings in shares of Phillips 66 by 60.6% in the first quarter. First Community Trust NA now owns 334 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 126 shares during the period. Accel Wealth Management raised its stake in Phillips 66 by 127.4% in the first quarter. Accel Wealth Management now owns 357 shares of the oil and gas company’s stock worth $31,000 after buying an additional 200 shares in the last quarter. Worth Asset Management LLC bought a new position in Phillips 66 in the first quarter worth approximately $32,000. Finally, Godsey & Gibb Associates bought a new position in Phillips 66 in the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 71.42% of the company’s stock.

Phillips 66 Price Performance

Shares of PSX opened at $82.27 on Friday. The firm has a market capitalization of $39.58 billion, a PE ratio of 7.09, a price-to-earnings-growth ratio of 0.42 and a beta of 1.39. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.28 and a quick ratio of 1.02. Phillips 66 has a 1-year low of $66.88 and a 1-year high of $111.28. The company’s fifty day moving average price is $86.90 and its 200-day moving average price is $88.23.

Phillips 66 (NYSE:PSXGet Rating) last announced its quarterly earnings data on Friday, July 29th. The oil and gas company reported $6.77 earnings per share for the quarter, beating analysts’ consensus estimates of $5.92 by $0.85. Phillips 66 had a net margin of 3.59% and a return on equity of 29.60%. The firm had revenue of $49.31 billion for the quarter, compared to analyst estimates of $40.93 billion. During the same period in the previous year, the company earned $0.74 earnings per share. The business’s quarterly revenue was up 76.8% compared to the same quarter last year. On average, equities research analysts predict that Phillips 66 will post 16.14 EPS for the current year.

Phillips 66 Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently commented on PSX. BMO Capital Markets began coverage on shares of Phillips 66 in a research note on Monday, June 13th. They issued an “outperform” rating and a $132.00 price objective for the company. Cowen reduced their price objective on shares of Phillips 66 to $96.00 in a research note on Tuesday. Morgan Stanley boosted their price objective on shares of Phillips 66 from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, July 15th. Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $119.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Wolfe Research downgraded Phillips 66 from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, September 14th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.73.

About Phillips 66

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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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