Teachers Retirement System of The State of Kentucky Trims Stake in Phillips 66 (NYSE:PSX)

Teachers Retirement System of The State of Kentucky lowered its stake in Phillips 66 (NYSE:PSX - Free Report) by 41.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 204,875 shares of the oil and gas company's stock after selling 146,311 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Phillips 66 were worth $23,341,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of PSX. NewEdge Wealth LLC lifted its position in Phillips 66 by 0.5% in the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company's stock valued at $1,732,000 after purchasing an additional 81 shares during the last quarter. JBR Co Financial Management Inc raised its holdings in Phillips 66 by 0.9% during the 4th quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company's stock valued at $1,085,000 after buying an additional 85 shares during the last quarter. Nwam LLC boosted its position in Phillips 66 by 2.2% during the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company's stock valued at $442,000 after buying an additional 85 shares during the period. Webster Bank N. A. grew its holdings in Phillips 66 by 48.4% in the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company's stock worth $31,000 after acquiring an additional 88 shares during the last quarter. Finally, PFG Private Wealth Management LLC increased its position in shares of Phillips 66 by 7.7% in the fourth quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company's stock valued at $140,000 after acquiring an additional 88 shares during the period. Institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Down 0.7 %

PSX stock traded down $0.71 on Friday, reaching $103.98. 3,056,399 shares of the company traded hands, compared to its average volume of 2,905,964. 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 has a fifty day simple moving average of $115.80 and a 200-day simple moving average of $121.24. Phillips 66 has a one year low of $91.01 and a one year high of $155.84. The company has a market cap of $42.37 billion, a P/E ratio of 21.05, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly 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 8.58% and a net margin of 1.46%. The company had revenue of $31.92 billion during the quarter, compared to analysts' expectations of $31.93 billion. During the same period in the prior year, the firm earned $1.90 EPS. Research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $4.80 annualized dividend and a dividend yield of 4.62%. This is an increase from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend payout ratio (DPR) is 97.17%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PSX. Raymond James dropped their target price on shares of Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Morgan Stanley dropped their price objective on Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating for the company in a report on Thursday. The Goldman Sachs Group cut Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price on the stock. in a research note on Thursday, March 27th. Mizuho dropped their price target on Phillips 66 from $140.00 to $132.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Finally, Scotiabank reduced their price objective on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $140.43.

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.