Public Employees Retirement System of Ohio Sells 12,582 Shares of Phillips 66 (NYSE:PSX)

Public Employees Retirement System of Ohio trimmed its position in Phillips 66 (NYSE:PSX - Free Report) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 185,604 shares of the oil and gas company's stock after selling 12,582 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Phillips 66 were worth $21,146,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Tallon Kerry Patrick acquired a new stake in shares of Phillips 66 during the 4th quarter valued at about $336,000. Ballentine Partners LLC grew its holdings in Phillips 66 by 11.4% during the fourth quarter. Ballentine Partners LLC now owns 3,040 shares of the oil and gas company's stock valued at $346,000 after purchasing an additional 312 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Phillips 66 by 0.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 216,625 shares of the oil and gas company's stock valued at $24,680,000 after purchasing an additional 772 shares during the period. Mutual Advisors LLC raised its position in shares of Phillips 66 by 15.8% in the fourth quarter. Mutual Advisors LLC now owns 16,852 shares of the oil and gas company's stock valued at $2,016,000 after purchasing an additional 2,301 shares during the period. Finally, Red Door Wealth Management LLC lifted its stake in shares of Phillips 66 by 16.1% in the fourth quarter. Red Door Wealth Management LLC now owns 2,279 shares of the oil and gas company's stock worth $260,000 after buying an additional 316 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Trading Down 1.0%

Phillips 66 stock traded down $1.10 during mid-day trading on Friday, hitting $113.58. The stock had a trading volume of 912,505 shares, compared to its average volume of 2,997,779. The stock has a 50-day simple moving average of $109.50 and a two-hundred day simple moving average of $118.69. 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 stock has a market capitalization of $46.28 billion, a PE ratio of 22.99, a P/E/G ratio of 4.84 and a beta of 1.01. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $150.12.

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 (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.97). The business had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period last year, the business posted $1.90 EPS. As a group, sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm 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 dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 4.23%. This is a boost from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Monday, May 19th. Phillips 66's dividend payout ratio is presently 109.34%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PSX. TD Cowen increased their target price on Phillips 66 from $114.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Wells Fargo & Company decreased their price target on shares of Phillips 66 from $162.00 to $149.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. The Goldman Sachs Group lowered shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective for the company. in a research report on Thursday, March 27th. Scotiabank decreased their target price on Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. Finally, UBS Group reduced their price objective 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. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $137.86.

Insiders Place Their Bets

In related news, Director Robert W. Pease bought 439 shares of Phillips 66 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 purchase, the director now owns 4,091 shares in the company, valued at approximately $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.22% of the company's stock.

About Phillips 66

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.