Teachers Retirement System of The State of Kentucky Buys 19,659 Shares of Phillips 66 $PSX

Key Points

• Teachers Retirement System of The State of Kentucky increased its Phillips 66 stake by 60.9% in the first quarter, buying 19,659 additional shares and bringing its total holding to 51,960 shares worth about $9.47 million.
• Phillips 66 reported better-than-expected quarterly earnings of $0.49 per share, though revenue of $32.54 billion came in below analyst estimates. The company also posted year-over-year revenue growth of 6.9%.
• The stock has a Moderate Buy analyst consensus with a target price of $194.89, and Phillips 66 recently announced a quarterly dividend of $1.27 per share, yielding 2.6% annually.

Teachers Retirement System of The State of Kentucky lifted its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 60.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,960 shares of the oil and gas company's stock after buying an additional 19,659 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Phillips 66 were worth $9,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of PSX. Norges Bank bought a new stake in Phillips 66 during the 4th quarter valued at approximately $640,206,000. M&T Bank Corp raised its position in shares of Phillips 66 by 462.9% in the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company's stock worth $352,007,000 after acquiring an additional 2,243,268 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Phillips 66 by 424.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company's stock valued at $257,512,000 after purchasing an additional 1,532,389 shares during the period. Worldquant Millennium Advisors LLC purchased a new position in shares of Phillips 66 in the 2nd quarter valued at approximately $107,967,000. Finally, NewEdge Advisors LLC boosted its position in shares of Phillips 66 by 732.0% during the fourth quarter. NewEdge Advisors LLC now owns 996,955 shares of the oil and gas company's stock valued at $128,647,000 after purchasing an additional 877,131 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Zacks Research cut Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. Piper Sandler boosted their target price on shares of Phillips 66 from $168.00 to $177.00 and gave the company a "neutral" rating in a report on Wednesday, April 8th. Mizuho raised shares of Phillips 66 from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $170.00 to $212.00 in a research report on Wednesday, May 27th. Guggenheim raised Phillips 66 to an "outperform" rating in a research report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Phillips 66 from $188.00 to $202.00 in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $194.89.

Phillips 66 Price Performance

NYSE PSX opened at $198.00 on Tuesday. Phillips 66 has a 12 month low of $118.07 and a 12 month high of $198.58. The stock has a market cap of $79.38 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 0.25 and a beta of 0.69. The company's 50 day moving average is $176.76 and its two-hundred day moving average is $163.69. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of ($0.54) by $1.03. The business had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company's revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.90) earnings per share. As a group, research analysts anticipate that Phillips 66 will post 19.3 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Tuesday, August 18th. Phillips 66's dividend payout ratio is presently 50.05%.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 11,021 shares of the firm's stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the sale, the chief financial officer directly owned 97,376 shares of the company's stock, valued at $18,504,361.28. This trade represents a 10.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Omar Meyers acquired 175 shares of the stock in a transaction dated Wednesday, May 6th. The stock was acquired at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the transaction, the director directly owned 16,799 shares of the company's stock, valued at approximately $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 41,021 shares of company stock valued at $7,195,257 in the last quarter. 0.40% of the stock is currently owned by company insiders.

Key Stories Impacting Phillips 66

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Renewed Middle East tensions have tightened refined-product markets, which can lift refining margins and improve earnings for Phillips 66 as a downstream energy company. Renewed Middle East Tensions Threaten Supply: 3 Energy Stocks to Watch
• Positive Sentiment: Oil prices moved higher after escalating U.S.-Iran tensions around the Strait of Hormuz, a backdrop that can keep fuel markets tight and support refiners like PSX. Oil Jumps As Trump Makes U.S. 'Guardian' Of Hormuz; What Happens Now
• Positive Sentiment: Brokerage sentiment remains favorable overall, with Phillips 66 carrying a “Moderate Buy” consensus rating and recent price-target increases from firms such as Goldman Sachs and Barclays. Phillips 66 Given Consensus Recommendation of "Moderate Buy" by Brokerages
• Neutral Sentiment: CFO Kevin Mitchell sold 11,021 shares in a pre-arranged Rule 10b5-1 plan, but he still holds a sizable stake worth about $18.5 million, making the transaction more routine than alarming. Phillips 66 NYSE: PSX CFO Kevin Mitchell Sells 11,021 Shares
• Neutral Sentiment: Another report noted that Mitchell cashed in options while retaining a large equity position, reinforcing that the insider activity appears planned rather than a strong negative signal. Phillips 66's CFO Cashed In Options but Kept an $18.3 Million Stake
• Negative Sentiment: Zacks Research recently cut PSX from “strong-buy” to “hold,” which may temper enthusiasm even though the broader analyst view remains positive. Phillips 66 Given Consensus Recommendation of "Moderate Buy" by Brokerages

Phillips 66 Company Profile

Phillips 66 NYSE: PSX is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company's principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.

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