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

Mirae Asset Global Investments Co. Ltd. boosted its position in Phillips 66 (NYSE:PSX) by 17.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,958 shares of the oil and gas company’s stock after purchasing an additional 8,568 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Phillips 66 were worth $7,883,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSX. Evolution Wealth Management Inc. purchased a new position in shares of Phillips 66 in the second quarter valued at $25,000. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in shares of Phillips 66 in the 2nd quarter worth about $32,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Phillips 66 in the 2nd quarter valued at about $38,000. Country Trust Bank increased its holdings in Phillips 66 by 191.8% during the 3rd quarter. Country Trust Bank now owns 321 shares of the oil and gas company’s stock valued at $44,000 after acquiring an additional 211 shares in the last quarter. Finally, Operose Advisors LLC raised its position in Phillips 66 by 260.4% during the second quarter. Operose Advisors LLC now owns 346 shares of the oil and gas company’s stock worth $41,000 after acquiring an additional 250 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PSX has been the topic of several recent research reports. Wolfe Research upped their price target on shares of Phillips 66 from $159.00 to $164.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Jefferies Financial Group upped their target price on Phillips 66 from $137.00 to $149.00 and gave the company a “hold” rating in a research note on Monday, January 26th. Wells Fargo & Company increased their target price on Phillips 66 from $154.00 to $162.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. BMO Capital Markets raised their price target on Phillips 66 from $152.00 to $160.00 in a research report on Tuesday, November 11th. Finally, Scotiabank reissued a “sector perform” rating and issued a $140.00 price target on shares of Phillips 66 in a report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $154.47.

Phillips 66 Price Performance

PSX stock opened at $143.36 on Friday. The stock has a market capitalization of $57.76 billion, a price-to-earnings ratio of 39.17, a price-to-earnings-growth ratio of 0.52 and a beta of 0.90. The company has a quick ratio of 0.87, a current ratio of 1.23 and a debt-to-equity ratio of 0.68. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $147.96. The stock’s fifty day simple moving average is $136.83 and its 200-day simple moving average is $132.83.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.14 by $0.38. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.The firm had revenue of $33.69 billion during the quarter, compared to analyst estimates of $32.29 billion. During the same period in the prior year, the firm posted $2.04 earnings per share. Equities research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the completion of the transaction, the chief financial officer owned 89,771 shares of the company’s stock, valued at $12,388,398. This represents a 25.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $145.00, for a total transaction of $637,130.00. Following the completion of the sale, the executive vice president directly owned 30,193 shares in the company, valued at $4,377,985. This represents a 12.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 86,094 shares of company stock valued at $11,955,366 in the last 90 days. 0.22% of the stock is currently owned by insiders.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.