New York State Common Retirement Fund Lowers Position in Phillips 66 (NYSE:PSX)

New York State Common Retirement Fund trimmed its stake in Phillips 66 (NYSE:PSX - Free Report) by 3.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 429,977 shares of the oil and gas company's stock after selling 14,300 shares during the quarter. New York State Common Retirement Fund owned about 0.11% of Phillips 66 worth $53,094,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PSX. Pacific Center for Financial Services purchased a new stake in Phillips 66 in the fourth quarter valued at approximately $27,000. von Borstel & Associates Inc. purchased a new stake in Phillips 66 in the first quarter valued at approximately $27,000. Graney & King LLC purchased a new stake in Phillips 66 in the fourth quarter valued at approximately $28,000. Olde Wealth Management LLC purchased a new stake in Phillips 66 in the first quarter valued at approximately $28,000. Finally, Wood Tarver Financial Group LLC purchased a new stake in Phillips 66 in the fourth quarter valued at approximately $29,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Trading Down 2.0%

NYSE PSX opened at $131.66 on Monday. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63. The company's fifty day simple moving average is $119.47 and its 200-day simple moving average is $117.81. The stock has a market cap of $53.64 billion, a P/E ratio of 29.99, a PEG ratio of 2.11 and a beta of 1.02. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12.

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

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be paid a $1.20 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.65%. Phillips 66's dividend payout ratio (DPR) is presently 109.34%.

Insider Buying and Selling

In related news, Director Robert W. Pease purchased 439 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was acquired at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the purchase, the director owned 4,091 shares in the company, valued at approximately $465,760.35. This represents a 12.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian Mandell sold 9,800 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the sale, the executive vice president owned 56,838 shares of the company's stock, valued at approximately $7,104,750. The trade was a 14.71% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.22% of the company's stock.

Analysts Set New Price Targets

PSX has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price target on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 11th. JPMorgan Chase & Co. set a $115.00 price target on shares of Phillips 66 in a research report on Wednesday, June 18th. Raymond James Financial reduced their price target on shares of Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Evercore ISI initiated coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They set an "outperform" rating and a $130.00 price target on the stock. Finally, Tudor Pickering cut shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $135.07.

Phillips 66 Company 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.

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