Illinois Municipal Retirement Fund Trims Holdings in Phillips 66 (NYSE:PSX)

Illinois Municipal Retirement Fund lowered its position in Phillips 66 (NYSE:PSX - Free Report) by 24.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,654 shares of the oil and gas company's stock after selling 33,615 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Phillips 66 were worth $13,534,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. RWA Wealth Partners LLC boosted its holdings in Phillips 66 by 112.1% during the fourth quarter. RWA Wealth Partners LLC now owns 6,589 shares of the oil and gas company's stock worth $877,000 after buying an additional 3,482 shares in the last quarter. Sage Mountain Advisors LLC lifted its position in Phillips 66 by 13.9% in the 4th quarter. Sage Mountain Advisors LLC now owns 2,225 shares of the oil and gas company's stock worth $296,000 after buying an additional 271 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Phillips 66 by 15.1% during the 4th quarter. Jennison Associates LLC now owns 5,621 shares of the oil and gas company's stock valued at $748,000 after purchasing an additional 738 shares in the last quarter. MCF Advisors LLC raised its holdings in shares of Phillips 66 by 1.6% during the 4th quarter. MCF Advisors LLC now owns 6,731 shares of the oil and gas company's stock valued at $896,000 after purchasing an additional 104 shares in the last quarter. Finally, OLD National Bancorp IN raised its holdings in shares of Phillips 66 by 28.5% during the 4th quarter. OLD National Bancorp IN now owns 8,824 shares of the oil and gas company's stock valued at $1,175,000 after purchasing an additional 1,957 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PSX. Barclays lifted their target price on shares of Phillips 66 from $139.00 to $155.00 and gave the stock an "equal weight" rating in a report on Thursday, April 18th. Piper Sandler raised their price target on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an "overweight" rating in a research report on Friday, April 5th. StockNews.com lowered shares of Phillips 66 from a "buy" rating to a "hold" rating in a research report on Thursday, April 18th. Wells Fargo & Company lifted their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the company an "overweight" rating in a research report on Monday, April 8th. Finally, Scotiabank lifted their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the company a "sector outperform" rating in a research report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $158.00.

Insider Buying and Selling at Phillips 66

In related news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Robert W. Pease acquired 682 shares of Phillips 66 stock in a transaction on Thursday, February 15th. The shares were purchased at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the purchase, the director now directly owns 1,900 shares of the company's stock, valued at approximately $278,502. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the sale, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,056 shares of company stock valued at $5,272,681. Corporate insiders own 0.22% of the company's stock.

Phillips 66 Price Performance

Shares of NYSE PSX traded up $1.85 during trading on Tuesday, reaching $158.90. The company had a trading volume of 1,756,098 shares, compared to its average volume of 2,978,153. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The stock has a market cap of $67.98 billion, a PE ratio of 10.25, a PEG ratio of 1.92 and a beta of 1.37. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. The business's 50 day moving average price is $154.65 and its 200-day moving average price is $135.96.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share 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 company had revenue of $38.74 billion during the quarter, compared to the consensus estimate of $34.30 billion. Analysts expect that Phillips 66 will post 13.45 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.89%. The ex-dividend date is Friday, May 17th. This is an increase from Phillips 66's previous quarterly dividend of $1.05. Phillips 66's dividend payout ratio is presently 27.15%.

Phillips 66 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.