Phillips 66 (NYSE:PSX) Stock Holdings Trimmed by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund reduced its holdings in Phillips 66 (NYSE:PSX - Free Report) by 43.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,005 shares of the oil and gas company's stock after selling 9,226 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Phillips 66 were worth $1,482,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. J.Safra Asset Management Corp acquired a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $25,000. Pacific Center for Financial Services acquired a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $27,000. Graney & King LLC acquired a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $28,000. Wood Tarver Financial Group LLC acquired a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $29,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Phillips 66 in the 1st quarter valued at approximately $29,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Trading Down 2.9%

Shares of NYSE PSX traded down $3.63 during midday trading on Monday, hitting $121.15. The stock had a trading volume of 4,497,172 shares, compared to its average volume of 3,081,171. The company has a fifty day moving average price of $112.91 and a 200 day moving average price of $117.00. The company has a market capitalization of $49.36 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 1.94 and a beta of 1.02. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. The company had revenue of $31.92 billion during the quarter, compared to analysts' expectations of $31.93 billion. During the same period in the previous year, the company earned $1.90 EPS. On average, analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.96%. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Monday, May 19th. Phillips 66's payout ratio is presently 109.34%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Compass Point assumed coverage on Phillips 66 in a research note on Wednesday, June 18th. They issued a "buy" rating for the company. Scotiabank dropped their price objective on Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Mizuho raised their price objective on Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. TD Cowen raised their price objective on Phillips 66 from $114.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Finally, Evercore ISI initiated coverage on Phillips 66 in a research note on Wednesday, June 18th. They issued an "outperform" rating and a $130.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $133.93.

Insider Transactions at Phillips 66

In other news, Director Robert W. Pease acquired 439 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was purchased at an average cost of $113.85 per share, with a total value of $49,980.15. Following the completion of the acquisition, the director now directly owns 4,091 shares in the company, valued at $465,760.35. This represents a 12.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Brian Mandell sold 9,800 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total value of $1,225,000.00. Following the completion of the sale, the executive vice president now directly owns 56,838 shares of the company's stock, valued at approximately $7,104,750. This represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.