New York State Teachers Retirement System Trims Stock Holdings in Phillips 66 (NYSE:PSX)

New York State Teachers Retirement System lessened its holdings in Phillips 66 (NYSE:PSX - Free Report) by 5.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 437,429 shares of the oil and gas company's stock after selling 24,573 shares during the period. New York State Teachers Retirement System owned approximately 0.10% of Phillips 66 worth $58,239,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bornite Capital Management LP bought a new stake in Phillips 66 during the first quarter worth about $8,639,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Phillips 66 by 316.2% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,597 shares of the oil and gas company's stock worth $570,000 after buying an additional 5,012 shares during the last quarter. Synovus Financial Corp grew its stake in Phillips 66 by 5.1% during the first quarter. Synovus Financial Corp now owns 16,257 shares of the oil and gas company's stock worth $1,405,000 after buying an additional 788 shares during the last quarter. Cibc World Market Inc. grew its stake in Phillips 66 by 61.9% during the first quarter. Cibc World Market Inc. now owns 7,236 shares of the oil and gas company's stock worth $625,000 after buying an additional 2,766 shares during the last quarter. Finally, Blair William & Co. IL grew its stake in Phillips 66 by 103.8% during the first quarter. Blair William & Co. IL now owns 53,538 shares of the oil and gas company's stock worth $4,625,000 after buying an additional 27,267 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PSX. StockNews.com raised shares of Phillips 66 from a "hold" rating to a "buy" rating in a research note on Saturday, February 10th. JPMorgan Chase & Co. upped their price objective on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an "overweight" rating in a research note on Monday, April 1st. Bank of America increased their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the company a "neutral" rating in a research note on Friday, March 15th. Mizuho increased their price target on shares of Phillips 66 from $135.00 to $167.00 and gave the company a "neutral" rating in a research note on Friday, March 22nd. Finally, Raymond James increased their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the company an "outperform" rating in a research note on Thursday, February 1st. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, Phillips 66 presently has a consensus rating of "Moderate Buy" and a consensus target price of $156.38.

Insider Activity

In other news, EVP Richard G. Harbison sold 21,934 shares of the business's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares of the company's stock, valued at approximately $3,648,120.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Richard G. Harbison sold 21,934 shares of the business's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares of the company's stock, valued at approximately $3,648,120.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joseph Scott Pruitt sold 7,200 shares of the business's stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the sale, the vice president now directly owns 6,583 shares in the company, valued at $1,035,242.58. The disclosure for this sale can be found here. Insiders sold 35,056 shares of company stock valued at $5,272,681 in the last quarter. Company insiders own 4.57% of the company's stock.

Phillips 66 Trading Up 0.0 %

PSX traded up $0.07 during trading on Friday, reaching $170.75. 2,166,923 shares of the company's stock were exchanged, compared to its average volume of 3,097,216. The company's fifty day moving average price is $151.16 and its 200-day moving average price is $132.47. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $174.08. The firm has a market capitalization of $73.05 billion, a PE ratio of 11.04, a P/E/G ratio of 2.19 and a beta of 1.37.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, topping analysts' consensus estimates of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The firm had revenue of $38.74 billion during the quarter, compared to analyst estimates of $34.30 billion. As a group, equities analysts forecast that Phillips 66 will post 13 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Friday, May 17th. This is a positive change from Phillips 66's previous quarterly dividend of $1.05. Phillips 66's payout ratio is currently 27.15%.

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.