State Street Corp. Amends Phillips 66 Stake Disclosure
Ticker: PSX · Form: SC 13G/A · Filed: Jan 30, 2024 · CIK: 1534701
| Field | Detail |
|---|---|
| Company | Phillips 66 (PSX) |
| Form Type | SC 13G/A |
| Filed Date | Jan 30, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**State Street Corp. updated its Phillips 66 stake, confirming continued passive investment.**
AI Summary
State Street Corporation, a major financial institution, filed an amended SC 13G/A on January 30, 2024, indicating its ownership of Phillips 66 common stock as of December 31, 2023. This filing updates their previous disclosure, showing their continued significant, but passive, investment in the petroleum refining company. For investors, this means a large institutional player maintains a stake, which can signal stability but doesn't suggest any active push for corporate change.
Why It Matters
This filing confirms State Street Corporation's ongoing passive ownership in Phillips 66, providing transparency on a major institutional investor's position without indicating any activist intent.
Risk Assessment
Risk Level: low — This is a routine update from a passive institutional investor and does not signal any immediate risk or significant change for Phillips 66.
Analyst Insight
Investors should note that a major institution like State Street Corporation continues to hold a stake in Phillips 66, suggesting a baseline level of confidence, but this filing itself doesn't provide new catalysts for buying or selling.
Key Players & Entities
- State Street Corporation (company) — the reporting person and institutional investor
- Phillips 66 (company) — the subject company whose common stock is being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- January 30, 2024 (date) — the filing date of the SC 13G/A
- 0001534701 (company) — Phillips 66's Central Index Key (CIK)
Forward-Looking Statements
- State Street Corporation will maintain a passive investment strategy in Phillips 66. (State Street Corporation) — high confidence, target: Next 12 months
- Phillips 66's stock price will not be significantly impacted by this routine filing. (Phillips 66) — high confidence, target: Next 30 days
FAQ
What type of filing is this and what does it generally indicate?
This is an SC 13G/A filing, which is an amendment to a Schedule 13G. It generally indicates that a passive institutional investor, like State Street Corporation, owns more than 5% of a company's stock and is updating their previously reported ownership.
Who is the reporting person in this filing?
The reporting person is State Street Corporation, with an IRS Identification No. of 04-2456637 and organized in Boston, Massachusetts.
Which company's stock is the subject of this filing?
The subject company is Phillips 66, identified by the CUSIP number 718546104 and Central Index Key (CIK) 0001534701.
What was the 'date of event' that triggered this filing?
The 'date of event which requires filing of this statement' was December 31, 2023, as stated on the cover page of the filing.
Under which SEC rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b), as indicated by the 'X' next to 'RULE 13D-1 (B)' on the cover page.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 30, 2024 regarding Phillips 66 (PSX).