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New York State Teachers Retirement System Decreases Position in Phillips 66 (NYSE:PSX)

Phillips 66 logo with Energy background

New York State Teachers Retirement System decreased its holdings in Phillips 66 (NYSE:PSX - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 312,546 shares of the oil and gas company's stock after selling 24,147 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Phillips 66 worth $38,593,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PSX. J.Safra Asset Management Corp purchased a new position in Phillips 66 during the 4th quarter worth $25,000. Pacific Center for Financial Services purchased a new position in Phillips 66 during the fourth quarter worth about $27,000. Graney & King LLC acquired a new stake in Phillips 66 in the fourth quarter valued at about $28,000. Wood Tarver Financial Group LLC purchased a new stake in Phillips 66 in the 4th quarter valued at approximately $29,000. Finally, Opal Wealth Advisors LLC acquired a new position in Phillips 66 during the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Trading Up 2.6%

Phillips 66 stock traded up $3.21 during trading on Wednesday, hitting $126.36. The company's stock had a trading volume of 2,110,981 shares, compared to its average volume of 3,103,899. The stock's fifty day moving average is $115.56 and its 200 day moving average is $116.84. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12. The stock has a market capitalization of $51.48 billion, a price-to-earnings ratio of 28.78, a P/E/G ratio of 1.93 and a beta of 1.02. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.88 and a current ratio of 1.23.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $31.93 billion. During the same quarter in the previous year, the company earned $1.90 earnings per share. As a group, equities research analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders 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 yield of 3.80%. The ex-dividend date was Monday, May 19th. This is an increase from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's payout ratio is 109.34%.

Analyst Ratings Changes

A number of research firms have recently issued reports on PSX. Tudor Pickering downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Barclays boosted their target price on Phillips 66 from $106.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. UBS Group dropped their price target on Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Cantor Fitzgerald initiated coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They issued a "neutral" rating on the stock. Finally, Mizuho increased their price objective on shares of Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of "Moderate Buy" and a consensus target price of $133.93.

Check Out Our Latest Stock Report on Phillips 66

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Robert W. Pease purchased 439 shares of Phillips 66 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 transaction, the director directly owned 4,091 shares in the company, valued at approximately $465,760.35. This represents a 12.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brian Mandell sold 9,800 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was 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. This represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by insiders.

About Phillips 66

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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