Phillips 66 (NYSE:PSX) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its position in shares of Phillips 66 (NYSE:PSX) by 4.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,021 shares of the oil and gas company’s stock after selling 1,626 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Phillips 66 were worth $4,662,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Phillips 66 by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after purchasing an additional 1,578,669 shares during the period. Wellington Management Group LLP boosted its stake in shares of Phillips 66 by 20.3% in the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock worth $1,451,643,000 after buying an additional 1,842,226 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Phillips 66 by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock worth $1,189,035,000 after acquiring an additional 402,925 shares during the period. Boston Partners raised its position in Phillips 66 by 41.4% during the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after acquiring an additional 1,595,722 shares in the last quarter. Finally, Norges Bank acquired a new position in Phillips 66 in the fourth quarter valued at approximately $559,435,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PSX shares. Raymond James raised their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Scotiabank dropped their price target on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Wolfe Research began coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. lowered their target price on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Finally, Wells Fargo & Company cut their price target on Phillips 66 from $180.00 to $176.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $157.38.

Phillips 66 Stock Up 2.8 %

Shares of PSX opened at $140.31 on Friday. The stock has a 50 day moving average price of $137.85 and a 200 day moving average price of $145.24. Phillips 66 has a one year low of $107.85 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The stock has a market capitalization of $58.73 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 2.53 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The business had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.87 earnings per share. Equities research analysts forecast that Phillips 66 will post 9.25 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be issued a $1.15 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.28%. Phillips 66’s payout ratio is 35.38%.

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.