BlackRock Amends Phillips 66 Stake, Maintains Passive Investment
Ticker: PSX · Form: SC 13G/A · Filed: Jan 26, 2024 · CIK: 1534701
| Field | Detail |
|---|---|
| Company | Phillips 66 (PSX) |
| Form Type | SC 13G/A |
| Filed Date | Jan 26, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock still owns a big chunk of Phillips 66, signaling confidence.**
AI Summary
BlackRock, Inc. filed an amended SC 13G/A on January 26, 2024, disclosing its ownership of Phillips 66 Common Stock as of December 31, 2023. This filing, Amendment No. 11, indicates BlackRock's continued significant passive investment in the petroleum refining company. This matters to investors because BlackRock is one of the world's largest asset managers, and its substantial, albeit passive, stake in Phillips 66 signals a vote of confidence in the company's long-term prospects, potentially influencing other institutional investors.
Why It Matters
BlackRock's continued significant ownership in Phillips 66, as disclosed in this amendment, can be seen as a positive signal for the company's stability and future outlook, potentially attracting or retaining other institutional investors.
Risk Assessment
Risk Level: low — This filing is a routine update from a large institutional investor and does not indicate any immediate or significant change in investment strategy or company operations.
Analyst Insight
Investors should view this as a routine disclosure of a large, passive institutional holding, not an indicator for immediate buying or selling. It reinforces that Phillips 66 is a widely held stock by major asset managers.
Key Players & Entities
- BlackRock, Inc. (company) — the reporting person and institutional investor
- Phillips 66 (company) — the issuer of the securities
- December 31, 2023 (date) — the date of the event requiring the filing
- January 26, 2024 (date) — the filing date of the SC 13G/A
- 718546104 (number) — the CUSIP number for Phillips 66 Common Stock
Forward-Looking Statements
- BlackRock will likely maintain its passive investment strategy in Phillips 66. (BlackRock, Inc.) — high confidence, target: Next 12-24 months
- Phillips 66's stock price will experience minimal direct impact from this routine filing. (Phillips 66) — high confidence, target: Next 1-3 months
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing, as stated in the 'FORM TYPE: SC 13G/A' and 'SCHEDULE 13G (Amendment No: 11)' sections.
Who is the reporting person in this filing?
The reporting person is BlackRock, Inc., as indicated under '(1)Names of reporting persons. BlackRock, Inc.' and in the 'FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc.' section.
What is the subject company (issuer) of the securities mentioned in this filing?
The subject company, or issuer, is Phillips 66, as stated under 'SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Phillips 66' and '(Name of Issuer) PHILLIPS 66'.
What is the date of the event that required this filing?
The date of the event which requires the filing of this statement is December 31, 2023, as specified under '(Date of Event Which Requires Filing of this Statement) December 31, 2023'.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b), as indicated by the '[X] Rule 13d-1(b)' checkbox.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 26, 2024 regarding Phillips 66 (PSX).