MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Reduces Stock Holdings in Phillips 66 (NYSE:PSX)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its holdings in Phillips 66 (NYSE:PSX) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,684 shares of the oil and gas company’s stock after selling 3,147 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Phillips 66 were worth $4,749,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. grew its position in Phillips 66 by 4.3% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 12,783 shares of the oil and gas company’s stock worth $1,456,000 after purchasing an additional 530 shares during the last quarter. Tallon Kerry Patrick purchased a new stake in shares of Phillips 66 during the fourth quarter valued at $336,000. Merit Financial Group LLC grew its holdings in shares of Phillips 66 by 100.9% during the fourth quarter. Merit Financial Group LLC now owns 8,372 shares of the oil and gas company’s stock valued at $954,000 after buying an additional 4,204 shares during the last quarter. Brooklyn Investment Group increased its position in shares of Phillips 66 by 40.7% in the 4th quarter. Brooklyn Investment Group now owns 2,146 shares of the oil and gas company’s stock valued at $244,000 after acquiring an additional 621 shares during the period. Finally, Trust Co. of Vermont raised its stake in Phillips 66 by 3.4% in the 4th quarter. Trust Co. of Vermont now owns 4,780 shares of the oil and gas company’s stock worth $545,000 after acquiring an additional 157 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group lowered Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective on the stock. in a report on Thursday, March 27th. Raymond James cut their price target on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Barclays lifted their price objective on shares of Phillips 66 from $106.00 to $115.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Morgan Stanley cut their price objective on shares of Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Finally, UBS Group reduced their target price on shares of Phillips 66 from $144.00 to $140.00 and set a “buy” rating for the company in a report on Monday, April 28th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.86.

Phillips 66 Stock Up 0.7%

Phillips 66 stock opened at $125.69 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The stock has a market capitalization of $51.21 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01. The business has a 50 day simple moving average of $111.61 and a 200-day simple moving average of $119.21. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $150.12.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). The company had revenue of $31.92 billion during the quarter, compared to analysts’ expectations of $31.93 billion. Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the previous year, the firm posted $1.90 EPS. On average, analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.82%. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Monday, May 19th. Phillips 66’s payout ratio is presently 109.34%.

Phillips 66 Company 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.