New York State Common Retirement Fund Decreases Stake in Phillips 66 (NYSE:PSX)

New York State Common Retirement Fund lowered its stake in shares of Phillips 66 (NYSE:PSX) by 11.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 296,647 shares of the oil and gas company’s stock after selling 37,483 shares during the quarter. New York State Common Retirement Fund’s holdings in Phillips 66 were worth $39,496,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Barclays PLC raised its holdings in Phillips 66 by 4.2% during the third quarter. Barclays PLC now owns 7,760,709 shares of the oil and gas company’s stock worth $932,447,000 after purchasing an additional 309,239 shares in the last quarter. Morgan Stanley raised its holdings in Phillips 66 by 2.1% during the third quarter. Morgan Stanley now owns 6,768,960 shares of the oil and gas company’s stock worth $813,291,000 after purchasing an additional 138,646 shares in the last quarter. Northern Trust Corp raised its holdings in Phillips 66 by 6.2% during the third quarter. Northern Trust Corp now owns 4,881,094 shares of the oil and gas company’s stock worth $586,463,000 after purchasing an additional 283,010 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Phillips 66 by 12.4% during the third quarter. Bank of New York Mellon Corp now owns 4,570,590 shares of the oil and gas company’s stock worth $549,156,000 after purchasing an additional 502,785 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Phillips 66 by 21.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,946,809 shares of the oil and gas company’s stock valued at $233,909,000 after acquiring an additional 350,211 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the topic of a number of recent research reports. Mizuho cut their target price on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Wells Fargo & Company lifted their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Scotiabank lifted their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. StockNews.com cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Finally, Raymond James lifted their target price on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.00.

Phillips 66 Trading Down 0.6 %

NYSE PSX opened at $157.82 on Thursday. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The company’s 50 day moving average price is $155.18 and its 200 day moving average price is $136.46. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. The firm has a market capitalization of $67.52 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 1.95 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The company had revenue of $38.74 billion during the quarter, compared to the consensus estimate of $34.30 billion. On average, sell-side analysts predict that Phillips 66 will post 13.59 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a $1.15 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 2.91%. Phillips 66’s dividend payout ratio (DPR) is 27.15%.

Insider Buying and Selling at Phillips 66

In related news, Director Robert W. Pease purchased 682 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was acquired at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the transaction, the director now owns 1,900 shares of the company’s stock, valued at $278,502. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Robert W. Pease purchased 682 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was acquired at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the transaction, the director now owns 1,900 shares of the company’s stock, valued at $278,502. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. Insiders sold 35,056 shares of company stock valued at $5,272,681 over the last 90 days. 0.22% of the stock is owned by corporate insiders.

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.