Teachers Retirement System of The State of Kentucky raised its holdings in Phillips 66 (NYSE:PSX - Free Report) by 23.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 252,730 shares of the oil and gas company's stock after buying an additional 47,855 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.06% of Phillips 66 worth $31,207,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of PSX. Price T Rowe Associates Inc. MD raised its position in shares of Phillips 66 by 283.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock valued at $686,618,000 after purchasing an additional 4,455,220 shares in the last quarter. Norges Bank bought a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $497,648,000. Capitolis Liquid Global Markets LLC bought a new position in Phillips 66 during the 4th quarter worth $142,185,000. GAMMA Investing LLC grew its stake in Phillips 66 by 14,119.5% during the 1st quarter. GAMMA Investing LLC now owns 1,189,606 shares of the oil and gas company's stock worth $146,893,000 after buying an additional 1,181,240 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Phillips 66 by 157.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,541,240 shares of the oil and gas company's stock worth $175,593,000 after purchasing an additional 942,922 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.
Insider Transactions at Phillips 66
In related news, Director Robert W. Pease acquired 439 shares of the stock in a transaction on Thursday, May 22nd. The stock was acquired at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the acquisition, the director directly owned 4,091 shares of the company's stock, valued at approximately $465,760.35. This represents a 12.02% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brian Mandell sold 9,800 shares of the firm's stock in a transaction dated 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 completion of the sale, the executive vice president owned 56,838 shares of the company's stock, valued at $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 currently owned by company insiders.
Analyst Ratings Changes
Several analysts have recently weighed in on PSX shares. TD Cowen upped their price objective on Phillips 66 from $114.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Raymond James Financial set a $142.00 price objective on Phillips 66 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Citigroup lowered Phillips 66 from a "buy" rating to a "neutral" rating and upped their target price for the stock from $126.00 to $130.00 in a research report on Wednesday, July 16th. Mizuho increased their price objective on Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Finally, The Goldman Sachs Group lowered Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective on the stock. in a report on Thursday, March 27th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Phillips 66 currently has a consensus rating of "Hold" and an average target price of $135.20.
Check Out Our Latest Research Report on PSX
Phillips 66 Stock Performance
Shares of NYSE PSX traded up $1.38 during midday trading on Wednesday, reaching $127.54. The company's stock had a trading volume of 914,899 shares, compared to its average volume of 3,130,804. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.23 and a quick ratio of 0.88. The stock has a market capitalization of $51.97 billion, a P/E ratio of 29.04, a PEG ratio of 1.95 and a beta of 1.02. The firm has a 50 day moving average price of $121.35 and a 200-day moving average price of $118.27. 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 announced 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). 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 during the quarter, compared to analysts' expectations of $31.93 billion. During the same quarter last year, the firm posted $1.90 earnings per share. As a group, equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.
Phillips 66 Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.76%. Phillips 66's dividend payout ratio is currently 109.34%.
Phillips 66 Profile
(
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.
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