California State Teachers Retirement System Trims Stock Holdings in Phillips 66 (NYSE:PSX)

California State Teachers Retirement System decreased its stake in Phillips 66 (NYSE:PSX - Free Report) by 35.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 497,521 shares of the oil and gas company's stock after selling 271,043 shares during the period. California State Teachers Retirement System owned 0.12% of Phillips 66 worth $56,683,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bogart Wealth LLC grew its stake in Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 120 shares during the period. J.Safra Asset Management Corp acquired a new position in Phillips 66 in the fourth quarter valued at approximately $25,000. Pacific Center for Financial Services bought a new position in shares of Phillips 66 during the 4th quarter worth approximately $27,000. Stephens Consulting LLC grew its position in shares of Phillips 66 by 83.5% during the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock worth $28,000 after buying an additional 111 shares during the period. Finally, Graney & King LLC acquired a new stake in shares of Phillips 66 during the 4th quarter worth approximately $28,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

Shares of PSX stock traded down $1.37 during trading on Friday, reaching $113.31. 4,559,842 shares of the company's stock traded hands, compared to its average volume of 3,013,715. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $150.12. The company has a market capitalization of $46.17 billion, a P/E ratio of 22.94, a PEG ratio of 4.84 and a beta of 1.01. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm's 50-day moving average is $109.26 and its 200 day moving average is $118.44.

Phillips 66 (NYSE:PSX - Get Free Report) last announced 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). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. The firm had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. During the same period in the previous year, the business earned $1.90 earnings per share. Equities research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend is Monday, May 19th. This is a boost from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend payout ratio is currently 109.34%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PSX shares. UBS Group dropped their target price on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Wall Street Zen raised shares of Phillips 66 from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Wells Fargo & Company dropped their price objective on shares of Phillips 66 from $162.00 to $149.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Barclays raised their target price on Phillips 66 from $106.00 to $115.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Finally, TD Cowen boosted their target price on Phillips 66 from $114.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $135.62.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Robert W. Pease purchased 439 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were purchased at an average cost of $113.85 per share, with a total value of $49,980.15. Following the completion of the purchase, the director now owns 4,091 shares of the company's stock, valued at $465,760.35. The trade was a 12.02% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.22% of the company's stock.

Phillips 66 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.