Illinois Municipal Retirement Fund Has $10.75 Million Stock Holdings in Phillips 66 $PSX

Illinois Municipal Retirement Fund lifted its position in shares of Phillips 66 (NYSE:PSX) by 10.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,040 shares of the oil and gas company’s stock after purchasing an additional 7,464 shares during the period. Illinois Municipal Retirement Fund’s holdings in Phillips 66 were worth $10,751,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Elliott Investment Management L.P. lifted its stake in shares of Phillips 66 by 22.4% in the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock worth $2,296,644,000 after acquiring an additional 3,526,000 shares during the period. Oppenheimer & Co. Inc. raised its holdings in Phillips 66 by 57.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company’s stock worth $7,734,000 after purchasing an additional 20,742 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in shares of Phillips 66 by 5.0% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 209,700 shares of the oil and gas company’s stock worth $28,523,000 after purchasing an additional 10,000 shares during the period. Vanguard Group Inc. boosted its stake in shares of Phillips 66 by 14.8% in the 2nd quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock valued at $5,531,702,000 after purchasing an additional 5,978,841 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Phillips 66 by 3.9% during the second quarter. California Public Employees Retirement System now owns 696,577 shares of the oil and gas company’s stock worth $83,102,000 after buying an additional 26,238 shares during the period. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $156.20 on Friday. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $163.79. The stock’s 50 day moving average is $139.99 and its 200-day moving average is $134.58. The company has a quick ratio of 0.87, a current ratio of 1.23 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $62.94 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 0.57 and a beta of 0.90.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.32. Phillips 66 had a net margin of 3.22% and a return on equity of 9.28%. The business had revenue of $32.16 billion during the quarter, compared to analyst estimates of $33.81 billion. During the same quarter in the previous year, the business posted ($0.15) EPS. Sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be issued a $1.27 dividend. The ex-dividend date is Monday, February 23rd. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.3%. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s dividend payout ratio (DPR) is currently 44.36%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PSX. Piper Sandler upped their price target on shares of Phillips 66 from $153.00 to $156.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Wolfe Research upped their target price on Phillips 66 from $159.00 to $164.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. TD Cowen reiterated a “buy” rating on shares of Phillips 66 in a report on Friday, February 6th. UBS Group reissued a “buy” rating and issued a $172.00 price target on shares of Phillips 66 in a research note on Friday, February 6th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Phillips 66 from $154.00 to $151.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $157.18.

Insider Transactions at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,394 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total value of $659,100.00. Following the completion of the sale, the executive vice president directly owned 25,799 shares of the company’s stock, valued at $3,869,850. This represents a 14.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brian Mandell sold 25,500 shares of Phillips 66 stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $140.04, for a total value of $3,571,020.00. Following the transaction, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,959,593.52. The trade was a 30.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 60,488 shares of company stock worth $8,474,466 in the last 90 days. 0.22% of the stock is currently owned by company insiders.

About Phillips 66

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.