Teacher Retirement System of Texas Has $9.82 Million Stock Position in Phillips 66 (NYSE:PSX)

Teacher Retirement System of Texas lessened its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 39.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 79,556 shares of the oil and gas company's stock after selling 50,791 shares during the quarter. Teacher Retirement System of Texas' holdings in Phillips 66 were worth $9,824,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PSX. Brighton Jones LLC lifted its stake in shares of Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock worth $1,166,000 after buying an additional 7,214 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Phillips 66 during the 4th quarter worth about $49,000. Assetmark Inc. lifted its stake in shares of Phillips 66 by 12.3% during the 4th quarter. Assetmark Inc. now owns 3,024 shares of the oil and gas company's stock worth $345,000 after buying an additional 332 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Phillips 66 during the 4th quarter worth about $16,771,000. Finally, Cullen Frost Bankers Inc. lifted its stake in shares of Phillips 66 by 2.4% during the 4th quarter. Cullen Frost Bankers Inc. now owns 19,288 shares of the oil and gas company's stock worth $2,198,000 after buying an additional 457 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Price Performance

PSX stock traded up $0.34 during trading on Friday, reaching $126.80. 1,290,860 shares of the company were exchanged, compared to its average volume of 3,110,757. The company has a 50-day moving average of $116.94 and a two-hundred day moving average of $117.09. The company has a market capitalization of $51.66 billion, a price-to-earnings ratio of 28.88, a P/E/G ratio of 2.00 and a beta of 1.02. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $150.12. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.23 and a quick ratio of 0.88.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates 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 in the prior year, the company earned $1.90 earnings per share. As a group, equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors 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 3.79%. This is a boost from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date was Monday, May 19th. Phillips 66's dividend payout ratio is currently 109.34%.

Insider Buying and Selling

In other Phillips 66 news, Director Robert W. Pease purchased 439 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was purchased at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the transaction, the director owned 4,091 shares in the company, valued at $465,760.35. The trade was a 12.02% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Brian Mandell sold 9,800 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 56,838 shares of the company's stock, valued at approximately $7,104,750. This trade 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 owned by corporate insiders.

Analyst Ratings Changes

PSX has been the subject of a number of recent research reports. Compass Point initiated coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a "buy" rating for the company. Barclays boosted their price objective on shares of Phillips 66 from $106.00 to $115.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Raymond James Financial cut their price target on shares of Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. JPMorgan Chase & Co. set a $115.00 price target on shares of Phillips 66 in a report on Wednesday, June 18th. Finally, Cantor Fitzgerald assumed coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set a "neutral" rating for the company. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Phillips 66 has a consensus rating of "Moderate Buy" and an average price target of $133.93.

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.