Public Employees Retirement Association of Colorado Lowers Stake in Phillips 66 (NYSE:PSX)

Public Employees Retirement Association of Colorado lessened its holdings in Phillips 66 (NYSE:PSX - Free Report) by 94.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 56,856 shares of the oil and gas company's stock after selling 917,707 shares during the period. Public Employees Retirement Association of Colorado's holdings in Phillips 66 were worth $6,478,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bank of New York Mellon Corp lifted its position in Phillips 66 by 7.3% during the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company's stock valued at $1,064,601,000 after purchasing an additional 639,323 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Phillips 66 by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company's stock valued at $968,844,000 after buying an additional 82,758 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Phillips 66 by 283.5% during 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 acquiring an additional 4,455,220 shares during the period. Norges Bank purchased a new stake in Phillips 66 in the 4th quarter worth approximately $497,648,000. Finally, Invesco Ltd. raised its stake in Phillips 66 by 9.2% during the 4th quarter. Invesco Ltd. now owns 4,112,618 shares of the oil and gas company's stock worth $468,551,000 after acquiring an additional 347,905 shares during the period. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Trading Up 3.5 %

Shares of Phillips 66 stock traded up $3.62 on Friday, reaching $107.08. The company had a trading volume of 2,587,177 shares, compared to its average volume of 2,892,527. The firm has a market cap of $43.63 billion, a price-to-earnings ratio of 21.68, a P/E/G ratio of 4.84 and a beta of 1.17. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The firm's 50-day moving average price is $113.45 and its two-hundred day moving average price is $120.22. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). The firm had revenue of $31.92 billion for the quarter, compared to analysts' expectations of $31.93 billion. Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the previous year, the firm earned $1.90 earnings per share. As a group, research analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a $1.20 dividend. The ex-dividend date is Monday, May 19th. This represents a $4.80 annualized dividend and a yield of 4.48%. This is an increase from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend payout ratio (DPR) is presently 109.34%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PSX. TD Cowen reduced their price objective on shares of Phillips 66 from $127.00 to $114.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Morgan Stanley cut their price target on Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company lowered their price objective on Phillips 66 from $162.00 to $149.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Wolfe Research upgraded Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 target price for the company in a research report on Friday, January 3rd. Finally, StockNews.com raised Phillips 66 from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $136.36.

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.