Mirae Asset Global Investments Co. Ltd. Sells 39,467 Shares of Phillips 66 (NYSE:PSX)

Mirae Asset Global Investments Co. Ltd. lowered its position in Phillips 66 (NYSE:PSX) by 29.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,961 shares of the oil and gas company’s stock after selling 39,467 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Phillips 66 were worth $12,510,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Wells Fargo & Company MN raised its position in shares of Phillips 66 by 0.6% during the second quarter. Wells Fargo & Company MN now owns 17,121,154 shares of the oil and gas company’s stock worth $1,633,016,000 after purchasing an additional 97,198 shares during the period. Moneta Group Investment Advisors LLC increased its stake in Phillips 66 by 100,843.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 9,979,304 shares of the oil and gas company’s stock worth $1,038,646,000 after purchasing an additional 9,969,418 shares in the last quarter. Barclays PLC raised its holdings in Phillips 66 by 4.2% during the 3rd quarter. Barclays PLC now owns 7,760,709 shares of the oil and gas company’s stock worth $932,447,000 after buying an additional 309,239 shares during the period. Wellington Management Group LLP lifted its stake in Phillips 66 by 62.1% in the first quarter. Wellington Management Group LLP now owns 7,188,087 shares of the oil and gas company’s stock valued at $620,979,000 after buying an additional 2,753,700 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Phillips 66 by 16.2% in the fourth quarter. Morgan Stanley now owns 6,961,625 shares of the oil and gas company’s stock valued at $724,566,000 after buying an additional 968,055 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Up 0.2 %

Phillips 66 stock opened at $165.47 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. The company’s 50-day moving average is $153.03 and its 200-day moving average is $133.76. The firm has a market capitalization of $70.79 billion, a PE ratio of 10.70, a P/E/G ratio of 2.07 and a beta of 1.37. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The firm had revenue of $38.74 billion for the quarter, compared to the consensus estimate of $34.30 billion. Sell-side analysts anticipate that Phillips 66 will post 13.3 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is 27.15%.

Insiders Place Their Bets

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction dated 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 transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the sale, the vice president now owns 6,583 shares in the company, valued at $1,035,242.58. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert W. Pease bought 682 shares of the stock in a transaction dated Thursday, February 15th. The shares were purchased at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the purchase, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The disclosure for this purchase can be found here. Insiders sold a total of 35,056 shares of company stock valued at $5,272,681 over the last ninety days. 4.57% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. StockNews.com raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday, February 10th. Barclays increased their price objective on Phillips 66 from $132.00 to $139.00 and gave the stock an “equal weight” rating in a report on Monday, February 5th. Bank of America boosted their target price on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Wells Fargo & Company upped their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Scotiabank lifted their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.21.

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.