California State Teachers Retirement System reduced its stake in shares of Phillips 66 (NYSE:PSX – Get Rating) by 1.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 826,869 shares of the oil and gas company’s stock after selling 10,484 shares during the quarter. California State Teachers Retirement System’s holdings in Phillips 66 were worth $66,745,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Legend Financial Advisors Inc. acquired a new position in Phillips 66 during the third quarter worth about $49,000. National Pension Service grew its position in shares of Phillips 66 by 0.7% in the third quarter. National Pension Service now owns 716,728 shares of the oil and gas company’s stock valued at $57,790,000 after purchasing an additional 5,102 shares during the last quarter. CENTRAL TRUST Co grew its position in shares of Phillips 66 by 3.2% in the third quarter. CENTRAL TRUST Co now owns 29,703 shares of the oil and gas company’s stock valued at $2,397,000 after purchasing an additional 930 shares during the last quarter. Cape Cod Five Cents Savings Bank grew its position in shares of Phillips 66 by 3.4% in the third quarter. Cape Cod Five Cents Savings Bank now owns 4,428 shares of the oil and gas company’s stock valued at $357,000 after purchasing an additional 146 shares during the last quarter. Finally, Advisors Capital Management LLC acquired a new stake in shares of Phillips 66 in the third quarter valued at approximately $240,000. 70.76% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have recently commented on PSX. Raymond James increased their price target on shares of Phillips 66 from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, January 13th. Morgan Stanley increased their price target on shares of Phillips 66 from $115.00 to $125.00 and gave the company an “equal weight” rating in a research report on Friday, January 20th. Royal Bank of Canada increased their price target on shares of Phillips 66 from $130.00 to $132.00 and gave the company an “outperform” rating in a research report on Wednesday, February 8th. Wells Fargo & Company lowered their price target on shares of Phillips 66 from $134.00 to $127.00 and set an “overweight” rating on the stock in a research report on Thursday, January 5th. Finally, Piper Sandler decreased their target price on shares of Phillips 66 from $155.00 to $137.00 and set an “overweight” rating on the stock in a research report on Monday, December 19th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $121.27.
Insider Buying and Selling
Phillips 66 Stock Performance
NYSE:PSX opened at $95.05 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.38 and a debt-to-equity ratio of 0.49. The company has a market cap of $44.09 billion, a P/E ratio of 4.14, a P/E/G ratio of 0.33 and a beta of 1.37. Phillips 66 has a fifty-two week low of $74.02 and a fifty-two week high of $113.53. The firm’s 50 day moving average is $102.75 and its two-hundred day moving average is $99.38.
Phillips 66 (NYSE:PSX – Get Rating) last posted its quarterly earnings results on Tuesday, January 31st. The oil and gas company reported $4.00 earnings per share for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.35). The company had revenue of $40.91 billion for the quarter, compared to analysts’ expectations of $34.30 billion. Phillips 66 had a return on equity of 31.20% and a net margin of 6.27%. During the same period in the prior year, the business earned $2.94 EPS. Analysts expect that Phillips 66 will post 15.68 EPS for the current year.
Phillips 66 Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Tuesday, February 21st were issued a dividend of $1.05 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Friday, February 17th. This represents a $4.20 annualized dividend and a dividend yield of 4.42%. Phillips 66’s payout ratio is presently 18.30%.
Phillips 66 Company Profile
Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.
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