Teachers Retirement System of The State of Kentucky Sells 4,011 Shares of Phillips 66 (NYSE:PSX)

Teachers Retirement System of The State of Kentucky trimmed its position in Phillips 66 (NYSE:PSX) by 1.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259,268 shares of the oil and gas company’s stock after selling 4,011 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Phillips 66 were worth $36,601,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PSX. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Phillips 66 by 15.7% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 2,684 shares of the oil and gas company’s stock worth $357,000 after purchasing an additional 364 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Phillips 66 by 17.8% during the fourth quarter. Jones Financial Companies Lllp now owns 2,320 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 350 shares in the last quarter. CWA Asset Management Group LLC raised its holdings in shares of Phillips 66 by 50.4% in the 4th quarter. CWA Asset Management Group LLC now owns 2,870 shares of the oil and gas company’s stock worth $382,000 after acquiring an additional 962 shares during the last quarter. NEOS Investment Management LLC boosted its position in shares of Phillips 66 by 38.8% during the fourth quarter. NEOS Investment Management LLC now owns 6,233 shares of the oil and gas company’s stock valued at $830,000 after buying an additional 1,743 shares during the last quarter. Finally, Peapack Gladstone Financial Corp grew its holdings in Phillips 66 by 2.6% during the fourth quarter. Peapack Gladstone Financial Corp now owns 9,525 shares of the oil and gas company’s stock worth $1,268,000 after buying an additional 242 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Trading Up 0.3 %

Shares of Phillips 66 stock opened at $131.45 on Tuesday. 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 $55.73 billion, a P/E ratio of 10.11, a P/E/G ratio of 5.22 and a beta of 1.33. Phillips 66 has a 52-week low of $107.85 and a 52-week high of $174.08. The stock’s 50-day simple moving average is $134.13 and its 200 day simple moving average is $142.78.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. Phillips 66’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company posted $3.87 EPS. As a group, research analysts anticipate that Phillips 66 will post 8.27 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.22% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PSX has been the subject of several recent analyst reports. Scotiabank reduced their target price on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. JPMorgan Chase & Co. reduced their price objective on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. TD Cowen dropped their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Mizuho cut their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, Morgan Stanley decreased their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $154.21.

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.