State of Tennessee Department of Treasury Has $10.69 Million Stock Holdings in Phillips 66 (NYSE:PSX)

State of Tennessee Department of Treasury trimmed its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 33.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 93,846 shares of the oil and gas company's stock after selling 48,193 shares during the period. State of Tennessee Department of Treasury's holdings in Phillips 66 were worth $10,692,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. lifted its position in Phillips 66 by 10.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company's stock worth $5,349,000 after purchasing an additional 4,515 shares during the period. Flavin Financial Services Inc. bought a new stake in Phillips 66 in the fourth quarter valued at about $1,190,000. Everence Capital Management Inc. bought a new position in Phillips 66 during the fourth quarter worth about $3,033,000. Donoghue Forlines LLC acquired a new stake in Phillips 66 during the fourth quarter valued at approximately $1,438,000. Finally, Smith Group Asset Management LLC acquired a new position in shares of Phillips 66 in the 4th quarter worth approximately $1,149,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of analyst reports. Wolfe Research upgraded Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price target on the stock in a research report on Friday, January 3rd. Wells Fargo & Company cut their price target on shares of Phillips 66 from $162.00 to $149.00 and set an "overweight" rating for the company in a report on Monday. Piper Sandler cut shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. Scotiabank cut their target price on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Finally, Barclays dropped their price target on Phillips 66 from $135.00 to $106.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $136.36.

Phillips 66 Stock Performance

Shares of Phillips 66 stock traded up $0.40 during trading on Tuesday, hitting $106.18. 377,321 shares of the stock were exchanged, compared to its average volume of 2,888,413. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $152.19. The stock has a market capitalization of $43.26 billion, a price-to-earnings ratio of 21.49, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17. The company has a fifty day moving average price of $115.31 and a 200-day moving average price of $120.83. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

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

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date is Monday, May 19th. This is an increase from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend payout ratio is 97.17%.

Phillips 66 Company 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.