Phillips 66 $PSX Shares Sold by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Phillips 66 by 25.3%, now holding 131,496 shares valued at approximately $15.69 million.
• Phillips 66's stock has received mixed ratings from analysts, with price targets ranging from $115.00 to $170.00 and an average rating of "Moderate Buy".
• Recent insider transactions included Director Gregory Hayes purchasing 8,350 shares, increasing his ownership by 39.62% and signaling confidence in the company's prospects.

Public Employees Retirement System of Ohio trimmed its position in Phillips 66 (NYSE:PSX - Free Report) by 25.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 131,496 shares of the oil and gas company's stock after selling 44,527 shares during the period. Public Employees Retirement System of Ohio's holdings in Phillips 66 were worth $15,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in PSX. Brighton Jones LLC increased its position in shares of Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock valued at $1,166,000 after acquiring an additional 7,214 shares during the period. Two Sigma Investments LP acquired a new position in shares of Phillips 66 in the 4th quarter valued at $3,423,000. Mackenzie Financial Corp increased its position in shares of Phillips 66 by 14.1% in the 4th quarter. Mackenzie Financial Corp now owns 42,439 shares of the oil and gas company's stock valued at $4,835,000 after acquiring an additional 5,233 shares during the period. Siemens Fonds Invest GmbH grew its position in Phillips 66 by 34.8% during the 4th quarter. Siemens Fonds Invest GmbH now owns 7,935 shares of the oil and gas company's stock worth $889,000 after purchasing an additional 2,047 shares during the period. Finally, Wood Tarver Financial Group LLC acquired a new stake in Phillips 66 during the 4th quarter worth about $29,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Evercore ISI increased their price target on Phillips 66 from $130.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, September 19th. Wells Fargo & Company cut their price target on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 11th. Bank of America downgraded Phillips 66 from a "buy" rating to a "neutral" rating and increased their price target for the stock from $144.00 to $147.00 in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. set a $115.00 price target on Phillips 66 in a research report on Wednesday, June 18th. Finally, Scotiabank reaffirmed a "sector perform" rating and set a $133.00 price target on shares of Phillips 66 in a research report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $139.38.

Insider Activity at Phillips 66

In related news, Director Gregory Hayes purchased 8,350 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the purchase, the director owned 29,423 shares of the company's stock, valued at $3,527,817.70. This represents a 39.62% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sigmund L. Cornelius purchased 500 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The stock was bought at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the completion of the purchase, the director directly owned 21,543 shares in the company, valued at $2,661,637.65. This represents a 2.38% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 9,850 shares of company stock valued at $1,188,910. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Price Performance

NYSE:PSX opened at $139.23 on Friday. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $140.60. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $56.26 billion, a PE ratio of 33.47, a price-to-earnings-growth ratio of 1.94 and a beta of 1.15. The stock's 50-day moving average price is $127.67 and its 200-day moving average price is $120.07.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The firm had revenue of $33.77 billion for the quarter, compared to analysts' expectations of $32.11 billion. During the same period last year, the firm earned $2.31 EPS. As a group, equities analysts expect 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 was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were paid a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a yield of 3.4%. Phillips 66's dividend payout ratio (DPR) is currently 115.38%.

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.

Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.