Mirae Asset Global Investments Co. Ltd. Has $21.84 Million Stake in Phillips 66 (NYSE:PSX)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Phillips 66 (NYSE:PSX) by 42.3% in the first quarter, Holdings Channel reports. The firm owned 133,736 shares of the oil and gas company’s stock after purchasing an additional 39,775 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Phillips 66 were worth $21,844,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. acquired a new position in Phillips 66 during the fourth quarter valued at approximately $27,000. Redmont Wealth Advisors LLC bought a new position in Phillips 66 in the first quarter valued at approximately $28,000. First United Bank & Trust bought a new position in Phillips 66 in the fourth quarter valued at approximately $31,000. Signature Resources Capital Management LLC bought a new position in Phillips 66 in the fourth quarter valued at approximately $33,000. Finally, Bruce G. Allen Investments LLC bought a new position in Phillips 66 in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PSX shares. Barclays cut their price target on shares of Phillips 66 from $147.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Monday, July 1st. Bank of America boosted their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Mizuho cut their price objective on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. The Goldman Sachs Group boosted their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.07.

Phillips 66 Stock Performance

Shares of NYSE:PSX traded down $1.97 on Friday, hitting $138.40. The company had a trading volume of 1,605,457 shares, compared to its average volume of 2,459,715. Phillips 66 has a 1-year low of $94.51 and a 1-year high of $174.08. The stock has a market cap of $58.67 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 2.13 and a beta of 1.34. The stock has a 50 day moving average price of $141.28 and a 200 day moving average price of $144.97. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The business had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. During the same quarter last year, the company posted $4.21 earnings per share. Analysts expect that Phillips 66 will post 10.99 EPS for the current year.

Insiders Place Their Bets

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the sale, the executive vice president now directly owns 48,365 shares in the company, valued at $7,051,617. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.22% of the company’s stock.

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.