Phillips 66 $PSX Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its stake in Phillips 66 (NYSE:PSX) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 93,722 shares of the oil and gas company’s stock after selling 3,323 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Phillips 66 were worth $12,094,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Oppenheimer & Co. Inc. raised its holdings in shares of Phillips 66 by 57.4% in the third quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company’s stock worth $7,734,000 after acquiring an additional 20,742 shares during the last quarter. First National Bank of Omaha acquired a new position in Phillips 66 in the third quarter valued at $2,357,000. TD Asset Management Inc increased its stake in Phillips 66 by 15.5% in the third quarter. TD Asset Management Inc now owns 174,413 shares of the oil and gas company’s stock valued at $23,724,000 after purchasing an additional 23,364 shares during the last quarter. Caprock Group LLC acquired a new position in Phillips 66 in the third quarter valued at $2,412,000. Finally, National Pension Service increased its stake in Phillips 66 by 3.5% in the third quarter. National Pension Service now owns 602,099 shares of the oil and gas company’s stock valued at $81,898,000 after purchasing an additional 20,213 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PSX shares. UBS Group upped their target price on Phillips 66 from $172.00 to $212.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Jefferies Financial Group upped their target price on Phillips 66 from $173.00 to $191.00 and gave the company a “hold” rating in a research note on Tuesday, May 26th. Raymond James Financial upped their target price on Phillips 66 from $205.00 to $215.00 in a research note on Thursday, April 30th. TD Cowen upped their target price on Phillips 66 from $155.00 to $213.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Finally, Mizuho upgraded Phillips 66 from a “neutral” rating to an “outperform” rating and upped their target price for the company from $170.00 to $212.00 in a research note on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.28.

Insiders Place Their Bets

In other Phillips 66 news, Director Kevin Omar Meyers purchased 175 shares of Phillips 66 stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average price of $173.12 per share, with a total value of $30,296.00. Following the completion of the acquisition, the director owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Brian Mandell sold 42,800 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $169.53, for a total value of $7,255,884.00. Following the completion of the transaction, the executive vice president directly owned 61,595 shares of the company’s stock, valued at $10,442,200.35. This represents a 41.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 114,029 shares of company stock worth $19,641,455. Company insiders own 0.40% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $180.06 on Tuesday. Phillips 66 has a 1-year low of $111.19 and a 1-year high of $190.61. The business has a 50-day moving average of $172.41 and a 200-day moving average of $155.05. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The company has a market capitalization of $72.19 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 0.26 and a beta of 0.68.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. During the same quarter in the prior year, the business earned ($0.90) earnings per share. The company’s revenue was up 6.9% compared to the same quarter last year. On average, equities analysts anticipate that Phillips 66 will post 17.64 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were issued a $1.27 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.8%. Phillips 66’s dividend payout ratio is currently 50.05%.

Phillips 66 Company Profile

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.